Growth in parcels revenue failed to offset the continuing decline in letter volumes in the first nine months of its financial year, Royal Mail said today. While parcel volumes and revenue were both up 6% in the nine months ended 23 December, with the firm citing a strong performance during the Christmas period, addressed letter volumes were 8% lower and letters revenue 6% down year-on-year. It meant the operator’s core UKPIL revenue was down 1% in the period, although group […]
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%).
A lot has happened in the two weeks since the last MT Tracker, and today the government has revealed that it will begin selling shares in post and parcel operator Royal Mail within the next few weeks, adding another transport name to the companies listed on the London Stock Exchange.
Royal Mail Group chief executive Moya Greene said that next year “would be a good aim” for the planned sale of the firm. Although there is no definite time frame for Royal Mail to be privatised, the government hopes the firm receives the capital it needs in 2013, Greene said at the Institute of Economic Affairs (IEA) and Marketforce Future of UK Postal Services conference in London yesterday (4 December). Greene said: “I know that Her Majesty’s government would like […]