Connect Group trading results

UK distribution company Connect Group has released its latest trading results for the festive period, and has signed up fashion retailer ASOS as a second customer for the company’s Pass My Parcel click & collect service.

Pass My Parcel was originally launched in October 2014 and its first customer was Amazon. Connect Group said that the arrangement with ASOS will begin with 20 retail outlets, and will then be rolled out among the remaining 3,0000 outlets in the coming months.

A statement released by Connect Group said that Pass My Parcel delivers, “excellent operational performance” over the peak Christmas period and remains on track with its current expansion plans.

The company statement continued, “The launch of a mobile enabled returns collection service, with a QR (Quick Response) code sent to customers’ mobile phones, is the next step in the Group’s strategy to grow Pass My Parcel.”

Connect Group’s overall performance is “in line with management expectations”, with total Group revenues increasing 6.4% compared to the same period last year. The Connect Parcel Freight division turned in a strong performance. The trading results statement suggested that its 2014 acquisition of Tuffnells was a major factor in the company’s overall success: “Overall performance continues in line with management expectations with total Group revenues increasing 6.4% compared to the same period last year, including the benefit of a full period’s strong contribution from the Parcel Freight division following the acquisition of Tuffnells in December 2014. Total Group like for like revenues decreased 2.3%.”

With regard the company’s Parcel and Freight division, the company statement went on to say,  “Total and like for like revenues both increased by 12.1% with continued positive market growth and new customer wins. The division’s performance remains in line with management expectations, with strong growth under the Group’s ownership.”

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