INTERIM RESULTS
For the 6 months ended 30 September 2011
Highlights
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Group revenues up 5.7% to £201.6m (2010: £190.7m)
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Mail revenues up 9.2% to £93.8m (2010: £85.9m)
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Parcels revenues up 3.0% to £83.5m (2010: £81.0m)
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Group profit before tax (before exceptional items) £6.8m (2010: £7.4m) reflecting a reduction in margins and the impact of one less working day
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Exceptional items of £0.8m (2010: £nil) relating to restructuring costs
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Group profit before tax of £6.0m (2010: £7.4m)
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Strong balance sheet, net cash at period end of £11.6m (2010: £8.5m)
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Interim dividend maintained at 6.4p per share (2010: 6.4p)
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Launch of new consumer focused online parcel delivery service - www.ipostparcels.com
Guy Buswell, Chief Executive Officer of UK Mail, said:-
”The Group saw a satisfactory first quarter followed by a more challenging second quarter for the markets in which we operate. These conditions have continued into the third quarter to date and we assume that the economic environment will remain tough throughout the current financial year.
”Our mail business remains a market leader with an operational template that is ideally suited to adapt to the demands of an evolving market, and our parcels business maintains a good position compared to its key competitors, thanks to the benefits of our low-cost network and the industry-leading services we are continuing to introduce.
”Our strategy remains to continue to build competitive advantage, developing and investing in our low cost integrated network, driving down cost, investing in IT infrastructure and bringing to market new products and services to drive profitable revenue growth.”
For further information, please contact:
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UK Mail Group plc
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Guy Buswell, Chief Executive Officer
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0121 335 1111
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Steven Glew, Group Finance Director
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01753 706 070
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MHP Communications
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John Olsen
Ian Payne
Giles Robinson
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020 3128 8100
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