British parcels and mail group Business Post Group plc increased revenues just over 10% in the yearending March 31, 2008 thanks to a 50% jump in mail revenues and “good growth” in its core parcels
business.In a pre-close period trading update, the company said that the group revenues for thefinancial year increased by 10.1% on the previous year. Excluding the revenues from the FedExcontract, which terminated on 30 April 2007, underlying group revenue increased by 16.5%. Theoverall performance is in line with the board’s expectations, the company noted.
“We continue to see good growth in our B2B parcels business which represents around 80% ofparcels revenues. In B2C, which represents 15% of the parcels business, we are seeing an improvingtrend of performance,” Business Post commented.
Revenues in the mail business, UK Mail, increased by some 50% on the previous year, derivedfrom both new contract wins and substantial further business from existing customers. Business Postsaid it now handles some 10% of all mail collected in the UK.
Revenues in Specialist Services are now recovering with the fourth quarter showing growth,the company added. The Courier business, now trading under the UK Mail brand, has recently won anumber of new same-day contracts.
Business Post Group plc will report its preliminary results for the year ended 31 March 2008on 21 May 2008.
