Tanker company Abbey Logistics is on the road to recovery after more than halving its losses in the past financial year and delivering ‘strong profitability’ this year. Unveiling its annual results to 27 June 2020, Abbey Logistics said underlying EBITDA in the year had risen “significantly” to £4.6m – a 37% increase over the prior year – whilst net losses were reduced by 68% to £1.2m. The company said financial performance has been much stronger in the second half of […]
John Lewis has awarded a three year contract to Hermes, which will see the parcel carrier handle 48-hour home deliveries for parcels under 15kg. Parcels will be collected from the retailer’s regional depots six days per week and delivered to Hermes’ national hub in Nuneaton, Warwickshire, where they will be sorted. They will then be transported to one of Hermes’ regional depots and distributed to customers via one of its 7,500 couriers across the UK. The firm, who handle a […]
Even if customs clearance is reinstated following Brexit, leaving the EU remains the best thing for the UK, according to Europa Worldwide Group MD Andrew Baxter.
TNT Express saw a 13% drop in EMEA operating profit in the third quarter, despite a 3,2% turnover rise, due to “challenging trading conditions in Europe”. The parcel firm, which last week received a statement of objections from the European Commission ahead of its acquisition by UPS, did not perform as well in its EMEA operations as it had during the same period in 2011, its Q3 trading results revealed. Reported operating profit margins fell from 6.4% in Q3 2011 […]