The City will soon know whether Business Post, the parcel delivery group, has been able to put last year's potentially damaging boardroom drama behind it. Business Post has been one of the fastest-growing organisations in the highly competitive field of commercial deliveries. It has more than 18,000 customers, including multinationals, which often demand a quick international service, and small businesses in the domestic market. It also has the distinction of being owned by the wealthy Kane brothers, Peter and Michael, who stand in 135th position with £170m between them in the 1999 Sunday Times Rich List. However, when Peter Fitzwilliam arrived in February as finance director and company secretary, the group still had the high-profile departure of his predecessor, Torquil Montague-Johnstone, as a fresh memory. Montague-Johnstone had resigned complaining about boardroom changes that were bringing in the Kanes with executive powers. Customers seemed not to mind, as the turnover for the year to the end of March increased by 10% to £107.4m and profits before taxation and exceptional operating costs were recorded at £18.3m. This performance permitted a dividend of 15.1p net per share for the year, up 4.1%. Today the shares stand at about 475p. The test of Fitzwilliam's performance may be seen on Tuesday, when Business Post announces its results for the April-September half of this financial year.Peter Kane is still at the helm as chief executive, public relations officer and investor relations officer, brother Michael is a non-executive director, and there are no outward signs that the new finance director is clashing with them.
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