UK Mail Group PLC AGM / Interim Management Statement (3550H)
July 11 2012 - 2:00AM
UK Regulatory
TIDMUKM
RNS Number : 3550H
UK Mail Group PLC
11 July 2012
11 July 2012
uk mail Group plc
AGM / INTERIM MANAGEMENT STATEMENT
At today's AGM, Peter Kane, Chairman of UK Mail Group plc, will
announce the following Interim Management Statement covering the
period 1 April 2012 to 10 July 2012.
"We have made a satisfactory start to the financial year, with
trading performance for the first quarter in line with our
expectations.
Reported Group revenues for the first quarter increased by some
13% compared to the same period in the previous year. Adjusting for
the increase in Royal Mail prices implemented on 2 April 2012
underlying Group revenues increased by some 10%.
Our Parcels business showed good volume growth on the previous
year and, although we continue to see a mix change towards B2C,
revenues grew solidly.
Our Mail business showed good revenue growth both on an absolute
and an underlying basis. Mail remains well positioned in its market
with a healthy pipeline of new business opportunities.
Our Courier business saw a decline in revenues, as expected,
whilst our Pallets business has again achieved revenue growth.
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. We are planning
accordingly, with tight control of our costs continuing to be a key
focus. We have leading and differentiated positions in our markets,
a highly competitive business model, and a strong balance sheet
which gives us strategic flexibility. We are therefore confident
that we will come through this period of significant change in our
industry as one of the strongest players in the markets in which we
operate."
The Group expects to issue a pre-close trading update for the
half year ended 30 September 2012 in early October 2012.
- 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
Ian Payne
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 (formerly known as Business Post 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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