Profits boost for Securicor
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• Securicor's parcels business boosted its turnover by 15% and profits by 10% to £3.3m in the half-year to 31 March—the company refutes reports that the entire increase was due to business grown out of the Federal Express goodwill it acquired in May 1991. Securicor claims it has retained 80% of FedEx's customers. .
The company says that organic growth within the UK has been offset by over-capacity in the market which has flattened margins. head of parcels marketing Denis Norton says Securicor has built UK market share; he will not quantify business picked up from competitors. Same-day UK business Securicor Pony Express "made good progress".
Norton says 30% growth has come from the October 1992 relaunch of European services, now marketed as Network Europe with a domestic 24-hour operation and 4-8-hour services to 15 Continental countries, all by road. Five countries were previously served by air.