Royal Mail sees “strong growth” in parcels business as costs rise and letter volumes continue to fall

The cost of strike action and a faster than predicted fall in letter volumes could see Royal Mail make a loss next year, despite a “strong” half-year performance from its parcels business. Presenting Royal Mail’s half-yearly results to 29 September 2019, group chief executive Rico Back revealed a 5.1% increase in the group’s revenues to £5.1bn. Pre-tax profits climbed to £173m, compared with £33m in the same period last year. The group’s UK parcels, international and letters division (UKPIL) saw […]