Royal Mail profit drops by a third due to “challenging markets”


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 – […]