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 has admitted that the threat of industrial action and the introduction of size-based parcel pricing led to volumes being flat in the first nine months of the current financial year.
Royal Mail’s privatisation is complete, after the Department for Business, Skills and Innovation (BIS) said it had sold its remaining 14% stake in the business.
An inquiry into competition in the UK postal sector has been launched, after calls from Royal Mail to protect it from last mile delivery competition earlier this year.