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Royal Mail’s owner International Distribution Services (IDS) said on it was on track to return to profit, thanks to Christmas parcel deliveries.
Tracked parcels sent over the holiday season increased 19 per cent to 188 million while revenue rose by 2.4 per cent during the last quarter.
In contrast, the volume of addressed letters had fallen by 7 per cent although this was compensated by dearer stamps, with a first class stamp now costing £1.65 (€1.96).
Royal Mail predicted an adjusted operating profit during the present financial year, excluding the cost of voluntary redundancies, despite the “challenging macroeconomic backdrop” and two years of losses.
In a January 14 statement, IDS revealed that Royal Mail’s £3.57 billion (€4.24 billion) takeover by the Czech billionaire Daniel Kretinsky – already approved by the UK government – had received regulatory clearance from Europe and the US.
Once the deal is completed, Royal Mail will be delisted from the London Stock Exchange.
Kretinsky, who already owns with a 27.5 per cent stake in Royal Mail via Vesa Equity, which he entirely owns, said in November that he foresaw an increase in costs owing to the last UK Budget and did not rule out increased automation.
