UK Mail Group PLC Pre-close Trading Update (7874O)
25 September 2013 - 4:00PM
UK Regulatory
TIDMUKM
RNS Number : 7874O
UK Mail Group PLC
25 September 2013
25 September 2013
uk mail Group plc
PRE-CLOSE TRADING UPDATE
"A Good First Half Trading Performance"
UK Mail Group plc today issues the following pre-close trading
update for the half year ending 30 September 2013.
Current trading and outlook
Overall the Group performed well during the first half of the
financial year. Trading in the second quarter has been such that
overall performance for the first half year is now expected to be
ahead of our previous expectations.
Reported Group revenues for the first half are expected to show
an increase in some 7% compared to the same period in the previous
year. Adjusted for there being three extra working days in the
period compared to the equivalent period last year, the underlying
revenue increase was some 4%.
Our Parcels business continued to deliver a strong performance,
with average daily volumes for the half 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 in the second half as we
annualise the higher volume growth achieved from the end of the
second quarter of the last financial year.
In our Mail business revenues were down slightly, largely due to
mix changes, with our average daily mail volumes some 2% 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.
Whilst we remain cautious about the strength of the economic
recovery in the UK, the markets in which we operate continue to
provide us with opportunities to develop and grow our business.
The Group will report its interim results for the half year
ended 30 September 2013 on 20 November 2013.
HS2 discussions
We continue to make progress with securing an agreement with HS2
for the relocation of our Birmingham hub and expect confirmation by
the Secretary of State for Transport to be received shortly. We
hope to be in a position to provide a full update on our plans at
the time of our interim results.
- 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
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 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.
Forward-looking statements
All financial information in this announcement is sourced from
UK Mail's unaudited management accounts. These are before taking
account of any exceptional items, impairments, or other
non-recurring items which would only be decided upon at the time of
the formal review of the interim results. 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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