REVENUES RISE AT POSTAL GIANT WHISTL UK

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Turnover at Whistl UK, the country's second largest postal company after Royal Mail, has edged closer to the £600m mark after its ninth year of growth.

The Marlow-headquartered group, formerly known as TNT Post UK until it rebranded in September 2014, said it carried more than 3.9 billion items during its latest financial year.

According to the postal giant's financial accounts, which have recently been made public on Companies House, revenues for the year to 31 December 2013 were approximately £575m, a 3.6 per cent increase from a restated turnover of £554.6m the year before.

But despite the growth in turnover, Whistl UK slipped from a pre-tax profit of £5.7m to pre-tax losses of £8.1m after operating profits were hit with £14.5m of exceptional costs.

In the annual report, the business said: "We continue to consolidate our position as the second largest postal company after Royal Mail. In July we expanded our end-to-end final mile (E2E) service into south west London and then launched into Manchester in November.

"By the end of 2013, we delivered to 1.2 million households and businesses, had 23 delivery units and over 2,000 posties. This year has also seen our presence within packet and parcels and international services grow with a strengthened sales team. In addition we have established our presence within the logistics solutions market, winning some large contracts."

At the year end, Whistl UK employed 1,725 staff and operates six depots located in Marlow, Bristol, Manchester, Leeds, Scotland and Belfast.