Royal Mail has said it delivered a “resilient performance in challenging markets” despite its group profit falling by a third in the last year. For the year ending 27 March 2016, pre-tax profit fell 33% from £400m to £267m despite turnover increasing 1% year-on-year to £9.2bn (2015: £9.3bn). Turnover derived from GLS, its European operation, was up 9% at £1.6bn, although Royal Mail said it expected this level of growth to slow in the coming years. Turnover from UKPIL – […]
Latest figures from Massey Wilcox show that it increased revenue by 8.3% but profits fell as it struggled to pass on running costs, particularly wages.
DSV Road MD René Falch Olesen said that the economy in 2012 had affected the firm’s profit in what was a “satisfactory” year for the operator.
Royal Mail has confirmed CEO Moya Greene will retire in September, with the boss of its GLS division taking her place from 1 June.