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Revenue at the UK business – UK Parcels, International & Letters (UKPIL) – was flat at £3.7 billion, but operating profit before transformation costs slumped by over a quarter to £219 million. Within that, the real problem is parcels where revenue fell 1% to £1.46 billion. And Amazon's (AMZN) own delivery network is such a threat that Royal Mail thinks annual growth in its addressable market …
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