Royal Mail raised its annual profit forecast on Wednesday [10th March, 2021], citing stronger-than-expected advertising, business and stamped mail volumes this year.
The postal firm last month forecast annual profit ahead of market expectations as COVID-19 restrictions pushed parcel delivery demand to record levels and Christmas mail eased a slide in letter volumes.
While parcel growth remained in line with its expectations, letter volumes that have seen a steady fall in recent years, were better than anticipated, Royal Mail said.
The company also said that charges relating to its management restructuring program would be about £50 million lower than its original estimate.
Royal Mail, one of the oldest postal companies in the world, now expects 2020-21 profit to be around £700 million compared with £500 million it had forecast earlier.
https://www.reuters.com/article/idUSKBN2B217A
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Royal Mail lifts profit forecast as advertising, business mail recovers
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solar_plexus
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