Royal Mail crosses £10bn turnover mark but sees 37% pre-tax profit drop

Royal Mail postwoman

Royal Mail offset declining letter volume with its growing parcels operation in a year that saw it surpass the £10bn turnover mark for the first time, but saw pre-tax profit fall by more than a third (37%). For the year ended 25 March the group saw its turnover rise 2% to £10.2bn (2017: £9.8bn) but pre-tax profit tumbled to £212m compared with £335m a year ago. The share price of the country’s biggest road freight operator fell 6% (35p) shortly […]