UK Mail 1st Half Pretax Profit Rises
November 17 2016 - 3:09AM
Dow Jones News
LONDON-- U.K. Mail Group PLC (UKM.LN) Thursday reported a rise
in interim pretax profit despite lower revenue as it benefit from
reduced costs in its parcels business.
The U.K. delivery group, which earlier this year agreed to be
bought by Deutsche Post AG (DPW.XE) for 242.7 million pounds
($300.1 million), reported a pretax profit of GBP5.8 million for
the six months ended September 30, up from GBP2.2 million the
previous year, on revenue down to GBP230.2 million from GBP237.6
million.
The dividend is maintained at 5.5 pence.
"Given this positive momentum in our business, we are confident
heading into our peak trading period," said chairman Peter
Kane.
"However, the Board believes that U.K. Mail will benefit
significantly from becoming part of Deutsche Post DHL, and will be
better positioned to continue to develop our parcels and mail
businesses with the benefit of their greater financial and
operational resources," he added.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
November 17, 2016 02:54 ET (07:54 GMT)
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