UK Mail Group plc has reported annual, revenues of £481.0 million to year end 31 March 2016, down 0.8 per cent on the previous year. Its group profit before tax (pre-exceptional) was £10.7 million against £21 million for 2015. The business received compensation from HS2 for hub relocation which generated at exceptional income of £3.7 million. Peter Kane, chairman of UK Mail said “Last year was a challenging one but we have made good progress in implementing a detailed plan to address the issues we faced in transitioning to our new automated hub. The hub is now operating very well and achieving good throughput levels, having recently processed its 30 millionth parcel, with consistently high levels in both parcels and mail in recent months. The strategic rationale for the investments we have made remains compelling, and sets us up well for the next stage of profitable growth.”
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