Royal Mail has revealed that its UK operation saw a 2% year-on-year decline in turnover in the first quarter of its financial year, just a day after reports that the company submitted an objection to an ongoing Ofcom investigation into its pricing regulations emerged. While the revenue in UKPIL, Royal Mail’s post and parcel operation in the UK, was subject to decline, turnover at GLS, its international operation, saw an 8% rise. Parcel revenue within the group saw a 2% […]
The jury is still out on the success of the privatisation of the Royal Mail, said parcel services broker Fastlane International, after a leak of the Labour Manifesto for the 2017 general election called for it to return to public ownership.
The post and parcels industry has said the impending Royal Mail strike could force customers to rethink their delivery options as rival operators prepare for disruption to their final-mile deliveries.
Analysts have reacted cautiously to Royal Mail’s year end results, which saw the group’s turnover grow 2% year-on-year but annual profit fall by more than a third (37%).