Mar 30, 2021

Royal Mail: needs to deliver without pandemic push

Royal Mail finally - if temporarily - came good on marketing for its 2013 flotation trumpeting the business as delivery service to the ecommerce revolution. British postal services, hamstrung by years of labour strife and deprived of funds, are a textbook former state monopoly. GLS meantime expects sales to increase at a compound annual rate of 12 per cent through to the year ending March 2025. Projections imply revenues of €6.3bn in the year to March 2025, which gives an 8 per cent operating margin, below the current year's expected 8.7 per cent. GLS is holding capex at an annual rate of 3 per cent to 4 per cent over the period.

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