BUSINESS POST GROUP PLC
PRELIMINARY RESULTS 
FOR THE YEAR ENDED 31 MARCH 2009
Highlights
• Group revenues up 7.6% to £386m (2008: £359m)

• UK Mail revenues up 19.8% to £164m (2008: £137m)

• Profit before tax (before exceptional items) up 23.2% to £17.5m (2008: £14.2m)

• Pre-tax exceptional charges of £1.1m (2008: £nil)

• Profit before tax up 15.5% to £16.4m (2008: £14.2m)

• Proposed final dividend of 10.8p per share (2008: 10.8p)

• Strong balance sheet with net cash balances at year end of £9.5m (2008:  £6.2m)

Guy Buswell, Chief Executive of Business Post, said:

“We have again made good progress in the year, despite the challenging trading environment in the second half.  We have reacted quickly to the changing conditions, reducing our cost base further which helped us to deliver another significant improvement in financial performance.

UK Mail achieved good revenue and profit growth, and further increased its market share.  Parcels profits increased with reduced operating costs more than offsetting the impact of lower revenues, and here also we grew market share. Specialist Services also performed well.

Over the past three years, Business Post’s performance has been transformed and we are now the UK’s leading independent integrated postal group.  Our aim now is to consolidate this position, using our highly efficient and integrated network to drive profitable revenue growth. 

Trading in the early weeks of the new financial year has been in line with management expectations.  Whilst there have been some tentative signs of an improvement in market conditions, it is too early to discern any sustainable trend.  However, our business model and strategy, underpinned by a strong balance sheet, are proving resilient in the current economic climate.  We are encouraged by our performance to date and are confident of the Group’s ability to continue to outperform the markets in which we operate.”