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UK Mail blames poor weather conditions for profit warning

September 4, 2021

first_imgWednesday 12 January 2011 8:21 pm KCS-content whatsapp Show Comments ▼ Share SHARES in UK Mail dropped more than nine per cent yesterday after the delivery firm warned on its full-year profits, prompting Investec to cut its earnings and dividend forecasts and its target price to 400p from 420p.“Whilst we were able to manage our operations such that over 99 per cent of our Christmas parcel deliveries were delivered before Christmas, the weather meant that we incurred additional cost in our network to hold and deliver consignments,” said UK Mail.In a note, broker Investec said: “Whilst many of the issues faced in the third-quarter are one-off in nature, we have chosen to take a slightly more cautious approach to our expectations for the following financial years as well.” The broker cuts its earnings forecasts by up to 5.3 per cent for the years 2011-13, and reduces its dividend per share estimates by up to 4.7 per cent for the same period.Investec, however, repeats its “buy” rating, saying that: “UK Mail has a strong UK market position and is managed well operationally,” and “it remains in a strong financial position”. The shares closed 4.27 per cent down at 317p. whatsapp UK Mail blames poor weather conditions for profit warning Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap Tags: NULLlast_img

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