FTSE-listed delivery firm UK Mail is snatching market share from Royal Mail and other operators, it said yesterday after posting an 11.9 per cent jump in revenues for the six months to the end of September.
Pre-tax profits before exceptional items rose 7.8 per cent on a year ago to £7.3m.
The firm offers parcel and mail delivery primarily for businesses, and counts O2, Hornby and an NHS Trust among its clients. UK Mail hopes to make more inroads into business-to-consumer deliveries. Mail volumes rose two per cent on a year ago, outperforming an overall drop in letters being sent in the UK.
The firm said a recent hike in Royal Mail prices has driven customers towards its services.
Parcel volumes rose 10 per cent on last year, reflecting a string of client wins and growing business-to-consumer deliveries.
Chief executive Guy Buswell said cost cuts and network improvements have gone well during the period. “All of this gives us confidence that we can outperform our competitors and gain further market share as our industry continues to undergo significant change,” he said in a statement.
UK Mail shares rose 1.5 per cent yesterday.