UK Mail profits up

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UK Mail saw its revenues increase by 13 per cent in the first quarter 2012 compared to the same period in 2011.

Adjusting for the increase in Royal Mail prices implemented on 2 April 2012 underlying group revenues increased by some 10 per cent, according to its interim management statement.

Its pallet business revenues have grown, but its courier revenues were down on last year. Parcel revenues and volumes have grown, and it has seen a mix change towards B2C.

Peter Kane, chairman, said: “We remain in a sound financial position. We fully expect the economic backdrop to remain tough in 2012 and the pricing environment to stay competitive.”

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