Jul 18, 2017

General election slows UK decline at Royal Mail

High volumes of political mail in the run-up to May's snap election helped to slow the decline in Royal Mail's UK business during its first quarter, but the company still relied on its overseas businesses to register overall revenue growth. Revenues from UK letters in the three months to June 25 were 4 per cent lower than the same period last year, but the company said this would have been worse were it not for "Higher than expected revenue associated with the UK political parties' 2017 general election mailings". Growing revenues from parcel deliveries also helped to offset some of the decline in letters, and total revenues from the UK business slipped 1 per cent. Royal Mail's GLS business, which operates parcel delivery networks across Europe and North America, increased revenues by 6 per cent year on year. In UK, parcels, our quality of service and improved product offerings are driving high levels of customer satisfaction and attracting new customers and higher volumes.

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