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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
UK Mail Group | LSE:UKM | London | Ordinary Share | GB0001576163 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 440.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMUKM
RNS Number : 1573B
UK Mail Group PLC
12 April 2012
12 April 2012
UK Mail Group plc
PRE-CLOSE TRADING UPDATE
UK Mail Group plc (the "Group") today issues the following pre-close trading update for the financial year ended 31 March 2012.
Overall performance for the fourth quarter was in line with our expectations. Reported Group revenues for the quarter showed an increase of some 14% compared to the same period in the previous year, giving total reported revenue growth for the financial year of some 8%. Adjusting for the increase in Royal Mail prices implemented on 6 May 2011, underlying Group revenues for the quarter increased by some 8%, giving a total underlying revenue increase for the year of some 3%.
Our Parcels business continued the trends we have seen throughout this year. Volume growth of some 10% compared to the previous year was driven by an increase in internet shopping related home deliveries. The change in mix towards B2C did restrict the level of revenue growth and the challenging pricing environment continued to put pressure on margins.
Our Mail business had a solid final quarter and showed good growth in its revenues, on both a reported and underlying basis, for the quarter and the full year. This growth was primarily in the business class segment.
Our Courier and Pallets businesses both reported revenue growth for the full year.
We have made further progress with our plans to re-structure the business and to reduce our fixed cost base. In the second half we announced the closure of a further two depots, this brings the number of closures in the year to four, reducing our network to 50 depots. The cost of these actions will mean that the exceptional item for the full year will be some GBP2m.
The Group remains in a sound financial position.
Outlook
We continue to assume that UK economic conditions will remain tough throughout 2012 and tight control of our costs will remain a key focus to offset the impact of the competitive pricing environment.
Our strategy remains to continue to build competitive advantage, developing and investing in our low cost integrated network and bringing to market new products and services to seek to drive profitable revenue growth.
UK Mail Group will report its final results for the year ended 31 March 2012 on 22 May 2012.
- Ends - Enquiries: UK Mail Group plc Guy Buswell, Chief Executive 0121 335 1111 Steven Glew, Finance Director 01753 706070 MHP Communications John Olsen Ian Payne 020 3128 8100
Notes to editors:
All 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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