U.K. Mail Full-Year Profit Drops

U.K. Mail Group PLC posted an 8.2 percent decline in its pretax profit for the year ended March 31. U.K. Mail reported a pretax profit of 20.1 million pounds ($31.0 million) for the year, versus GBP21.9 million, in the year-ago period. Its revenue climbed to GBP485.1 million from GBP481.4 million. U.K. Mail raised its final dividend by 2.1 percent to 14.5 pence per share. CEO Guy Buswell said, "After a strong period of growth, with the volume of parcels handled within our business doubling over the past five years, UK Mail is in the midst of a period of major investment and transition at a time when our markets are undergoing significant change. All this has created some inevitable challenges but also significant longer-term opportunities."