UK Mail Group PLC Interim Management Statement (8298I)
09 July 2013 - 4:00PM
UK Regulatory
TIDMUKM
RNS Number : 8298I
UK Mail Group PLC
09 July 2013
9 July 2013
uk mail Group plc
INTERIM MANAGEMENT STATEMENT
"A good start to the current financial year"
UK Mail Group plc announces the following Interim Management
Statement covering the period 1 April 2013 to 30 June 2013.
We have made a good start to the current financial year, with
trading performance for the first quarter likely to be well ahead
of our previous expectations.
Reported Group revenues for the first quarter increased by some
6% compared to the same period in the previous year. Adjusted for
there being two extra working days in the period compared to the
same period last year, the underlying revenue increase was some
3%.
Our Parcels business continued to deliver a strong performance,
with daily volumes for the quarter increasing by some 25% 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 disclosed. We expect the level of parcels volume
growth to moderate going forward as we annualise the higher volume
growth achieved from the second quarter of the last financial
year.
In our Mail business revenues were down slightly, largely due to
mix changes; volumes were ahead of the same period last year. Mail
remains well positioned in its market with a good pipeline of new
business opportunities.
Our Courier and Pallet businesses performed in line with
expectations, with slight revenue declines on the same period in
the previous year.
The Group remains in a sound financial position.
We continue to expect the terms of an agreement with HS2 for the
relocation of our Birmingham hub to be confirmed shortly by the
Secretary of State for Transport.
Notwithstanding a good start to the current financial year, we
still assume that the UK economic backdrop will remain challenging
in the current year and that the pricing environment will stay
competitive. However, as our industry continues to evolve, we
continue to be confident that we can use our inherent strengths to
adapt to the opportunities and gain further market share.
The Group's Annual General Meeting will take place at 12.00pm
tomorrow, 10 July.
The Group expects to issue a pre-close trading update for the
half year ended 30 September 2013 in early October 2013.
- Ends -
For further information, please contact:
Enquiries:
UK Mail Group plc
Guy Buswell, Chief Executive 0121 335 1111
Steven Glew, Finance Director 01753 706070
MHP Communications
John Olsen
Ian Payne
Giles Robinson 020 3128 8100
All financial 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.
Notes to Editors:
The UK Mail Group (formerly known as Business Post Group) is the
largest independent parcels, mail and logistics services company
within the UK, offering innovative delivery solutions both locally
and worldwide. The Group has a national network of 50 sites and
2500 vehicles enabling it to offer business customers a unique
integrated service with a full range of time-sensitive and secure
delivery options for parcels, letters and pallets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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