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Strong parcel delivery demand boosts Connect Group's full-year profit
October 18, 2016 / 6:35 AM / a year ago

Strong parcel delivery demand boosts Connect Group's full-year profit

Oct 18 (Reuters) - British newspaper distributor and parcel delivery company Connect Group Plc reported a 7.4 percent rise in its full-year adjusted pretax profit, helped by higher sales in its parcel delivery unit.

* The company said adjusted pretax profit rose to 60.7 million pounds ($75.5 million) in the year ended Aug. 31, from 56.5 million pounds ($70.26 million) a year earlier.

* Adjusted revenue rose to 1.91 billion pounds from 1.88 billion pounds, said Connect, which also delivers books and stationery to schools.

* Revenue at its parcels business jumped 52.4 percent to 174.4 million pounds.($1 = 0.8042 pounds) (Reporting by Pranav Kiran in Bengaluru; Editing by Amrutha Gayathri)

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