Royal Mail profit falls by almost a third as it invests for the future


 

Profit fell by almost a third at Royal Mail in the first half of the current financial year, as the business invested heavily as part of its ongoing modernisation. A trading statement for the six months ending 27 September 2015 released today records a 30% decline in pre-tax profit, which fell from £167m to £116m. Revenue remained effectively flat in the period, decreasing 1% to £4.4bn (2014: £4.5bn). The group’s transformation costs, including almost 3,000 voluntary redundancies in its UK […]