Business Post says it aims to become "the UK's leading integrated postal operator". Financial director Steven Glew tells Motor Transport that the company's UK Mail business "is expected to more than double its turnover in the year to March 2007". "We're winning contracts all the time," Glew says. His comments came after the company released its trading statement last week, with financial results due on May 23.
Business Post reported a "much improved" second half for the year to March 31,
2007, after its November 2006 interim results. Revenue grew by 18% for the last six months, with the full year revenue growing by 17%, which it attributes primarily to the "continued strong performance of UK Mail". Glew says Business Post will "make the best use of the strong parcels business". The exit from its FedEx contract which cost the company £1m, is progressing.
The cost is offset by the £1m sale of the company's old hub in Bristol when it relocated to new lease premises in the city this February. "One of the things we're working on is how we replace that volume with other contracts," Glew says. Glew adds that the company's pallet network, UK Pallets, "continues to trade well".
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