UK Mail Group PLC AGM / Interim Management Statement (3550H)

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.

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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

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