Growth in Royal Mail’s parcels division is disappointing in the context of a booming e-commerce market, according to an industry researcher. The comment came after its annual results showed increased business performance at Royal Mail was reliant on its growing overseas division. The operator saw both turnover and volumes for its UK parcels division increase by 3% year-on-year for the year ended 26 March 2017, despite an overall decline in UK turnover. David Jinks, head of consumer research at Fastlane […]
Royal Mail sees “strong growth” in parcels business as costs rise and letter volumes continue to fall
The cost of strike action and a faster than predicted fall in letter volumes could see Royal Mail make a loss next year, despite a “strong” half-year performance from its parcels business.
The Communication Workers Union (CWU) has pledged to take its fight to the courtroom after Royal Mail applied for a High Court injunction to prevent postal workers taking strike action later this month.
The government is to sell its remaining stake in Royal Mail, completing the company’s journey from public-to-private road transport heavyweight.