Royal Mail reports declining operating profit in half year results

Royal Mail has announced its financial results for the first half of 2014, ended September 28, 2014. It reported revenue of £4,525m, an increase of 2% year-on-year. The company also recorded operating profit of £232m, which represented a decline of 18.02% compared to the first half of 2013. Accordingly Royal Mail’s margin stood at 5.13%.

Moya Greene, Chief Executive Officer, Royal Mail plc, said, “The UK parcels market remains challenging. As the pre-eminent UK parcels delivery company, we are targeting a number of new, growing areas, and delivered 2% volume growth in a competitive market. We had a better than expected performance in UK letters. GLS, our European parcels business, demonstrated a strong performance with better than expected volumes in domestic and export parcels.”

“Our performance remains in line with our expectations for the full year. But, as always, this depends on us delivering another great Christmas, for which we are fully prepared,” she added.

More to follow.


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