Royal Mail revenue up following strong Christmas performance Richard Stuart-Turner Thursday, January 18, 2018
Royal Mail has reported a group revenue increase of 2%, driven by a “good performance” over Christmas.
In a trading update issued today (18 January) for the nine-month period ended 24 December 2017, the group said revenues in its UK Parcels, International & Letters (UKPIL) division were flat, with parcel revenue – which increased by 4% – offsetting total letter revenue, which was down by 3%.
Parcel volumes grew by 6% over the first three quarters, with 149 million handled over the December trading period alone, while addressed letter volumes fell by 5%.
The group’s European parcels business General Logistics Systems (GLS) saw both volume and revenue increases of 10%. Revenue growth was achieved in all of its main markets, with continued strong growth in Italy, while good growth was also seen in Denmark and Eastern Europe.