Royal Mail annual profits jump 12% to £671m

[TrueBlueTerrier]

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Royal Mail has reported a 12 per cent rise in profits in its first full-year results as a public company.

The postal company said operating profit before transformation costs rose to £671 million in the year to March 30 but warned of increasing competition ahead.

Royal Mail yesterday announced it is to test collection and delivery of orders on a Sunday in London amid competition from rivals including Hermes and DPD.

Royal Mail chief executive Moya Greene said: "The competitive environment on the parcels side is more intense. We are taking steps to remain the leader in this growing market.

"On the letters side, the headwind is direct delivery and we have strategies in place to counter its adverse financial impact."

Group revenue rose 2 per cent to £9.46 billion as a 7 per cent rise in parcel sales helped offset a 2 per cent fall in UK letter sales.

[Chelseablue]

£671 million profit and in hard times too ! Share in success moya ,,reward the workers .

[El-Bandito]

£671 million profit and in hard times too ! Share in success moya ,,reward the workers .

Do not worry Chelseablue Moya will "reward" you. My guess is that LW will disappear as well as all Full Time London, Manchester, Liverpool workers, and all the other major city centres that TNT can cherrypick from within the next 36 months. The shareholders WILL demand it. Annual profits jump but share price falls