Royal Mail turnover growth continues despite increased competition


 

Turnover and pre-tax profit at Royal Mail Group continued to climb last year, despite increased competition in the parcels sector and declining letter volumes. The newly-privatised operator saw year-on-year turnover increase by 2% in the 12 months to 30 March 2014. Turnover derived from its parcels business increased by 7% to £3.1bn (2013: £2.9bn), despite what CEO Moya Greene described as more intense competition in the sector. However, Royal Mail expects parcel volume growth to slow this year, stating that […]