Exit: UK Mail chief steps down

Courier firm UK Mail has said its chief executive Guy Buswell has stepped down with immediate effect by mutual agreement.
By The Newsroom
Published 25th Nov 2015, 08:14 BST

The company said its founder and non-executive chairman Peter Kane would become interim executive chairman with immediate effect.

UK Mail reaffirmed its expectations for the current and the next financial year. UK Mail had reported a 56 per cent slump in first-half pre-tax profit, last week. Which the firm said was due to inefficiencies in its new automated hub and lower contribution from its largest parcels unit.

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UK Mail, which provides mail, parcels and logistics services, said pre-tax profit fell 56 per cent to £4.9m, while revenue rose 4.5 per cent to £237.6m in the six months ended September 30.

Last week the company added that it remains in the midst of a period of major investment and transition, the group relocated its national hub from Birmingham to Ryton in July 2015.

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