Royal Mail reveals latest results

Royal Mail has revealed their results and performance for the three months up to the 26th of June. In simple terms the previous trends have expected: parcels volumes are slightly up (1%) and letters are slightly down (2%). The drop in letters would have been 4% has it not been for the materials sent in the post in relation to the Referendum in June.

Royal Mail CEO Moya Greene says: “In what is traditionally a quieter trading period for the business, we saw no material change in overall trends. Group revenue was up 1% while in the UK revenue was down 1%. In Europe, GLS continued to perform well. We continue to face the challenges caused by the current low inflationary environment and our highly competitive markets. We remain, however, very focussed on operational and financial efficiency and delivering a high quality service for all our customers.”