UK Mail sees revenue climb as parcels division boosts figures

UK Mail said yesterday that revenues in the first quarter had climbed by 13 per cent year-on year.

Adjusting for the increase in Royal Mail prices brought in on 2 April 2012 underlying group revenues increased by around 10 per cent.

The company said that its parcels division had performed strongly and that overall the company was trading in line.

The mail business showed good revenue growth both on an absolute and an underlying basis.

But it said the courier business saw its revenues dented.

In its statement UK Mail said: “We remain in a sound financial position.

“We fully expect the economic backdrop to remain tough in 2012 and the pricing environment to stay competitive. We are planning accordingly, with tight control of our costs continuing to be a key focus.

“We have leading and differentiated positions in our markets, a highly competitive business model, and a strong balance sheet which gives us strategic flexibility.

“We are therefore confident that we will come through this period of significant change in our industry as one of the strongest players in the markets in which we operate.”