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BUZZ-UK Mail: tops small-cap losers list on weak H1

Reuters - UK Focus

** Delivery company UK Mail (LSE: UKM.L - news) slumps to its lowest in almost three years after weak H1 results

** H1 profit before tax and exceptional items down 47 pct

** UKM says its expectations for the next financial year have softened slightly; lowers dividend by 25 pct

** "...the recovery in Parcels margin will take longer than expected with arrivals scheduling now problematic and Mail margins are lower than anticipated," Investec (LSE: INVP.L - news) says

** Brokerage reduces TP to 380p from 485p, and recommendation to "Add" from "Buy"

** European postal firms are having to slash costs and invest in new technology and services as they try to stay ahead of new entrants in the lucrative parcel delivery market

** Stock falls as much as 17 pct, one of the top losers on the FTSE All Share Index and the FTSE All Share Industrial Transportation Index (RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)