UK Mail Group H1 profit increases

UK Mail Group PLC has reported a profit of GBP5.5 million, or 10.1 pence per diluted share, for the six months ended September 30, 2012, compared to GBP4.4 million, or GBP8.0 pence per diluted share, for the same period ended September 30, 2011.

Revenue for the six months ended September 30, 2012 was GBP225.7 million, compared to GBP201.6 million for the same period ended September 30, 2011.

Operating profit for the six months ended September 30, 2012 was GBP7.2 million, compared to GBP6.0 million for the same period ended September 30, 2011.

Net assets as of September 30, 2012 were GBP59.9 million, compared to GBP59.5 million, as of September 30, 2011.

Guy Buswell, CEO of UK Mail, said: "The Group had an encouraging first half, demonstrating the results of our continued efforts to reduce costs and further improve our efficient network. The whole team has done a great job in enabling us to build on our leading market positions, maintain our high service levels and strengthen our brand. The second half to date has continued in this vein, with current trading in line with our expectations.

"With our highly competitive business model, tight focus on costs, and strong balance sheet providing strategic flexibility, we are well prepared for the competitive environment, and general economic backdrop, to remain tough into 2013. 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."