Parcels firm UK mail has revealed a rise in revenue and profits after building market share.
The Birmingham-based firm, which has been on an efficiency drive, saw group revenues rise 11.9 per cent to £225.7 million in the six months to September 30.
The rise, which came on the back of increased mail and parcels increases, pushed pre-tax-and-exceptionals profits up to £7.3 million, compared with £6.8 million in the same period last year.
Chief executive Guy Buswell said the rise came on the back of stronger market share and products and services, including imail and ipostparcels, continuing to make good progress.
He 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.”
The group said mail revenues have increased by 23.6 per cent to £115.9 million while parcels sales were up 4.4 per cent to £87.2 million.