“Astonishing!” – Royal Mail set to double year-on-year profits amid e-commerce frenzy

Royal Mail’s “astonishing reversal of fortunes” after the online shopping surge during the pandemic means it expects to make an adjusted operating profit of £700m, more than double last year’s £325m. In a pre-close announcement, the postal group said it would continue to focus on its international and B2C work, identified as key growth opportunities. Its international subsidiary, GLS, is expected to grow revenue at around 12% between 2019/20 and 2024/25 and more than double its operating profit to Euros […]