UK Mail Group PLC Pre-Close Trading Update (8173B)
09 April 2013 - 4:00PM
UK Regulatory
TIDMUKM
RNS Number : 8173B
UK Mail Group PLC
09 April 2013
9 April 2013
UK Mail Group plc
PRE-CLOSE TRADING UPDATE
Strong performance in fourth quarter
UK Mail Group plc (the "Group") today issues the following
pre-close trading update for the financial year ended 31 March
2013.
Overall performance for the fourth quarter is expected to be
above our previous expectations, with performance in March
particularly strong. Reported Group revenues for the quarter are
expected to show an increase of some 6% compared to the same period
in the previous year, giving total reported revenue growth for the
financial year of some 11%. Adjusting for the increase in Royal
Mail prices implemented in April 2012 and two less working days
than in the same period last year, underlying Group revenues for
the quarter are expected to show an increase of some 6%, giving a
total underlying revenue increase for the year of some 8%.
Our Parcels business continued to deliver a strong performance,
with volumes for the quarter increasing by some 20% compared to the
same period last year. This volume growth was largely driven by an
increase in home deliveries related to online shopping, which
resulted in a continuation of the mix change towards B2C that we
have previously seen.
Our Mail business achieved good revenue growth. This growth
continues to be driven by strong customer retention and business
wins.
Our Courier business had a decline in revenues, as expected.
Revenues in our Pallets business declined. This business has faced
a difficult year, however its position is improving and it enters
the new financial year with a new management team and the previous
network issues now largely resolved.
The Group remains in a sound financial position.
Guy Buswell, Chief Executive of UK Mail, said:
"The performance of our business in the final quarter of the
year was again strong, partly helped by the early Easter. I am
particularly pleased with the performance of our parcels business
where volume growth continues to be high. In March we experienced
the highest ever daily volumes across our combined parcels and mail
businesses and, given our focus on our network management, we
continued to maintain our strong customer service levels.
"We still assume that the UK economic backdrop will remain
challenging in 2013 and that the pricing environment will stay
competitive. Our industry also continues to evolve, resulting in a
number of opportunities and challenges. With our highly competitive
business model, tight focus on costs and strong balance sheet, we
remain confident that we will continue to make good progress."
UK Mail Group will report its final results for the year ended
31 March 2013 on 22 May 2013.
- Ends -
Enquiries:
UK Mail Group plc
Guy Buswell, Chief Executive 0121 335 1111
Steven Glew, Finance Director 01753 706070
MHP Communications
John Olsen
Ian Payne 020 3128 8100
Notes to editors:
All information in this announcement is sourced from UK Mail's
unaudited management accounts. Statements made in this announcement
that look forward in time or that express UK Mail's management's
beliefs, expectations or estimates regarding future occurrences are
"forward-looking statements" within the meaning of the United
States federal securities laws. These forward-looking statements
reflect management's current expectations concerning future events
and actual results may differ materially from current expectations
or historical results.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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