Profit up 37 per cent at UK Mail

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UK Mail has reported a 37 per cent rise in profit before tax to £17.8m for the year to 31 March.

Sales were up 10.8 per cent to £475.4m.

Mail revenue was up 16.1 per cent to £241.6m  while parcels revenue was up 10.0 per cent to £189.3m.

Guy Buswell, chief executive officer said: “Our industry is undergoing some fundamental changes, from the rise in e-commerce and e-communication to the expected forthcoming privatisation of Royal Mail, a valued business partner of UK Mail. Today’s results demonstrate that our business model has the inherent strength to adapt to this changing market and grasp the opportunities that exist.

“We continue to invest in our business, maintaining our focus on innovation, efficiency and high service levels. Alongside this, we have today announced major plans for significantly increased automation across our network. These plans will be a key factor in driving further volume growth and margin enhancement for the Group. We thus remain confident we will continue to make good progress in the current year and beyond.”

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