Royal Mail profit slips

Dhaka,  Sun,  28 May 2017
Published : 18 May 2017, 13:20:15
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Royal Mail profit slips in annual profit

Royal Mail profit slips
The Royal Mail Group Limited reported a fall in annual profit on Thursday and warned the drop in letter volumes this year would be at the high end of a previous estimate if business uncertainty persists.

The former monopoly said adjusted operating profit before transformation costs fell 6.0 per cent to 712 million pounds in the year to March 26, toward the top end of a company-compiled consensus of 681 million to 719 million pounds, reports Reuters.

The UK based postal service company reiterated its forecast that addressed letter volume would decline by 4 to 6 per cent per year, excluding the impact of political parties' election mailings.

The decline would be at the higher of the end in the current financial year if business uncertainty persisted, it said.
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