Package services push UK Mail revenues north of £500m

 
Marion Dakers
UK MAIL, the London-listed delivery group, said yesterday that its annual revenues have passed £500m as more online retailers use its parcel services.

The firm said turnover was up seven per cent to £508.5m, while pre-tax profits rose 28 per cent to £22.8m in the year to the end of March.

As well as parcel delivery, the company sorts and distributes other mail for clients, using its access rights to Royal Mail postmen to deliver post the “last mile” to British letterboxes.

In the 10 years since Royal Mail granted access rights to other operators, UK Mail’s postal volumes have risen from 10,000 items a day to 23m.

“We think the postmen do a great job for us at a decent rate,” said chief executive Guy Buswell.

Shares in the firm closed flat yesterday at 610p.

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