25th Sep 2013 08:30
LONDON (Alliance News) - UK Mail Group Wednesday said that it expected its overall performance for the first half year to be ahead of previous expectations in a pre-close trading update.
The company said that reported revenues for the first half are expected to show an increase of around 7% compared to the previous year. It said that its Parcels business had delivered a strong performance, with daily volumes increasing 25% due to an increase in home deliveries related to online shopping. However, it cautioned that its mail business revenues would be down slightly.
Although the strength of the UK's economic recovery was a cause for caution, UK Mail Group said, the markets it operates in continue to provide it with opportunities to develop and grow its business.
The company is continuing discussions to secure and agreement with HS2 for the relocation of its Birmingham hub, and said that it expects confirmation from the Secretary of State for Transport soon.
Shares in the UK Mail Group were trading up 3.8% at 591.50 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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