May 20, 2021

Royal Mail withholds outlook in face of slowing parcel demand

Royal Mail Group withheld full-year financial guidance on uncertainty over whether shoppers would keep up the frenzied online buying that led to a doubling of its annual operating profit. "Revenues previously forecast for three years' time have been delivered this year," said Keith Williams, non-executive chair of Royal Mail Group. "As the outlook for 2021-22 contains a number of uncertainties that could significantly influence volumes and costs it is difficult to provide specific guidance for 2021-22 for Royal Mail.". In a sign of the "Unusual trends" expected in the months to come as restrictions ease, parcel volumes dropped 2 per cent. The number of letters sent jumped 25 per cent in April, pushing total monthly revenues up 24.1 per cent year-on-year.

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