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.”
With volumes falling yearly, the only way profits will rise is to put up prices.
Same as every other privatisation.
Prices rise to fund “improvements” which never quite seem to materialise.
Which is why your local pillar box has a daft 9am or 7am on Sats collection time.
Keeps the shareholders happy, so that’s all right then, isn’t it?
‘challenges caused by a low inflationary environment’ – what precisely does that mean?
they are crappy figures from a crappy business – shareholders just want the property valuation – then we are out
tax-payers should feel bilked – they have assumed more in pension liabilities than the sale of the company generated