White Arrow woos Lynx
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by Juliet Parish
• Home deliveries specialist White Arrow Express is interested in buying Lynx, the lossmaking NFC parcel carrier which operates more than 1,000 commercials from 30 sites. White Arrow's financial director Max Pardoe is known to have visited Lynx's Halesowen site at least once last week to discuss a potential takeover with Lynx managers.
The Great Universal Stores subsidiary is keen to boost its diversification out of in-house catalogue-ordered goods deliveries and into third-party courier work. Although Lynx is losing money, 12.6m in the 16 weeks to 22 January this year, it would give White Arrow a recognisable brand-name with which to diversify into parcels.
However, the move will rock Lynx's own management team, led by new managing director Philip Rose,
which is understood to have submitted its own buyout bid. Rose, who has reduced losses since his appointment last March, was unavailable for comment this week, White Arrow operates around 1,900 vehicles from 50 sites. Both companies decline to comment. r: NFC boosted group pre-tax profits by 45% to .4:28.3m in its first quarter results.
UK transport and logistics operating profit increased from 115.6m to £16.5m and revenue by 5% to £264m in the 16 weeks to 22 January.
BRS, the contract hire and truck rental division showed a slight improvement in revenue from 145.5m to 148.2m. Distribution of industrial goods remains "sluggish".
Parcels division Lynx, which is not accounted for in the UK transport and logistics figures in preparation for a potential sale, continued to make losses.