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UK's Royal Mail warns on competition as profits rise

By Neil Maidment LONDON (Reuters) – Newly privatised Royal Mail posted a 12 percent rise in full-year profit on Thursday and said it was taking steps to address increasing competition in both parcels and letters. The UK postal firm, which had long posted financial losses until two years ago, said operating profit before "transformation" costs – such as IT investments – rose to 671 million pounds …

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