GROUP revenues at Royal Mail rival UK Mail have climbed slightly while pre-tax profit fell.
In its final results for the year ended March 31, 2011, it posted a group revenue increase of 2.8% to £395.8m while mail revenues were up by 4.8% to £181.8m.
Parcels revenues at the firm, which has a large logistics operation in Birmingham, were up 1.2% to £166.7m compared with 2010.
Group pre-tax profits were down 9.9% to £16.1m and net cash at year end was up from £15.7m to £17.4m.
Chief executive Guy Buswell said: “After a satisfactory start to the year, the second half was undoubtedly more challenging for the markets in which we operate.
“Whilst we continued to grow revenues in our core businesses, our margins and therefore profits came under pressure.
“Our strategy remains to continue to expand our available markets and to increase our share of those markets by introducing new and innovative products and services, whilst enhancing the low-cost, integrated network that lies at the heart of our business.
“The difficult conditions impact all operators in our markets. Our focus on efficiency and innovation, combined with our strong balance sheet, put us in a strong position to continue to outperform our competitors and to defend and increase our market share.”
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