Royal Mail delivers disappointing results in Q2
Royal Mail has delivered its 2nd quarter results and they are not impressive.
Moya Greene, Chief Executive Officer, Royal Mail plc, said:
“In the first three months of our financial year we have seen a continuation of the overall market trends we saw last year. We have benefitted from the parcel initiatives that took effect in the second half of last year and a good performance from GLS. Our trading environment remains challenging and we are stepping up the pace of change to drive efficiency, growth and innovation, while maintaining a tight focus on costs.”
– Parcel volumes rose 3% but revenues only increased by 2%.
– Letters volumes decreased by 5% and revenues dipped by 4%.
It’s clear that Royal Mail and the Post Office are really struggling in the brave new world of privatisation. I believe that they have a strong role to play as part of ecommerce but it seems so far that they’re not opening their eyes to the possibilities.