UK Mail Group Expects 7% Increase In H1 Revenue

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UK Mail Group Plc, (UKM.L), an operator of independent parcel, mail, and logistics services, Wednesday said its group revenues for the first half of the year are expected to show about 7 percent increase from last year. Adjusting for three extra working days, underlying revenues increase was about 4 percent, the company said.

The company's parcel business showed a 25 percent increase in average daily volumes, reflecting increase in home deliveries related to online shopping. Due to mix changes, the company's mail business was down, with average daily volumes up by about 2 percent. The Courier and Pallet businesses saw a revenue decrease in the six-month period, compared with last year.

Looking forward, UK Mail said: "Whilst we remain cautious about the strength of the economic recovery in the UK, the markets in which we operate continue to provide us with opportunities to develop and grow our business." The company expects the level of its parcels volume growth to moderate in the second half.