Connect Group streamlines business

Connect Group streamlines business

Connect Group's (CNCT) chief executive, Mark Cashmore, called it a “challenging year” for the newspaper distributor and parcel delivery group - and he’s not wrong. Profitability was constrained due to a weak performance in mixed freight, which, among other things, was forced to cope with an unexpected spike in delivery requests for irregularly shaped items. This unit, along with the early distribution business, are the focus of rationalisation measures by management, specifically the integration of Tuffnells with Smiths News to streamline both operations, thereby saving around £15m a year.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now