UK express operator Business Post was optimistic it was on the upturn today when the groupannounced preliminary trading figures for the first six months of the fiscal year, up to 30
September.The company said it had reined in a further eight loss-making franchises during the period –bringing the number to 14 since the beginning of this year – and expects the losses to beeliminated by the end of the year.
The company struggled last year when profits fell to EUR 3.7 million in 2005-2006 from EUR13.7 million and there was a shake-up in management which saw Guy Buswell replacing Paul Carvell aschief executive.
In a statement today, Business Post said trading had been “satisfactory” in the first sixmonths up to September 30 this year, with revenues during the period rising 15% to EUR 153 million.
Its main business, parcels, was down 3.4%, however, to income of EUR 94 million, when it hadbeen up by 5% last year in difficult times.
But Business Post remained optimistic about the overall trend in its parcels division. “Wecontinue to make progress with our initiatives to strengthen this business, with a focus on furtherimproving our customer service and improving our operational efficiency,” the group said in astatement.
“Parcels volumes are now showing growth and our customer service levels we believe remainamongst the highest in our industry.”
UK Mail, Business Post’s competitor to Royal Mail, continued to deliver strong growth withrevenue more than doubling to EUR 37 million.
Since it began in May 2004, Business Post said UK Mail had processed over one billion mailitems and in September this year alone handled some 85 million.
Revenues in specialist services – same-day courier and palletised goods deliveries – werealso up, by 3.5% to EUR 21 million.
Business Post is to announce full interim results for the six months on 14 November.
