Business Post falls to pounds 8.8m

BUSINESS POST founder and chief executive, Peter Kane, gave his first profit figures since replacing Mick Jones as head of the UK parcel and mail delivery company. Announcing a 6 per cent fall in profits to pounds 8.8m, which Mr Kane attributed to a 33 per cent rise in operating costs, he vowed to "tighten up manning levels".

The company's share price - which has fallen by 64 per cent since its May peak of 957.5p - closed marginally up yesterday at 345p.