Royal Mail admits “legacy in letters” has hampered transition to parcels

Royal Mail has admitted it expects to make a loss in this financial year and won’t return to profit unless the business is overhauled to reflect a decline in letter volumes and a boom in parcel deliveries. In its latest trading update covering the five months ending 30 August, it confirmed there had been a substantial shift in the business from letters to parcels and that the growth was being driven by B2C and e-commerce. This led to better than […]