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Trading has been broadly in line with the update published on 10 March. Group adjusted operating profit for FY2020-21 is still expected to be around 700 million.

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Trading has been broadly in line with the update published on 10 March. Group adjusted operating profit for FY2020-21 is still expected to be around 700 million.

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https://www.royalmailgroup.com/en/press ... ss-update/

Trading has been broadly in line with the update published on 10 March. Group adjusted operating profit for FY2020-21 is still expected to be around £700 million.

Martin Seidenberg (CEO GLS) and Thorsten Pruin (CFO GLS), will provide a business update at 14:30 BST today, outlining medium term targets for the GLS business. This includes a focus on International and B2C as key growth opportunities, leveraging the strength of the GLS network and business model. From FY2019-20 to FY2024-25, GLS expects to grow revenue at around 12% CAGR (from €3,614 million in FY2019-20), more than double operating profit to €500 million and generate €1 billion of free cash flow1. Capex over the period is expected to remain in the range of 3-4% of revenue.

For FY2020-21, GLS adjusted operating profit is expected to be around £350 million (€390 million) and adjusted operating profit margin c. 8.7%.

An update on Royal Mail in the UK will be provided by Simon Thompson alongside FY2020-21 results on 20 May.

The Board has reviewed the performance of the Group during the past year and concluded that it is appropriate to pay a one-off final dividend of 10p per share in respect of FY2020-21, payable on 6 September 2021 to shareholders on the register at 30 July 2021, subject to approval at the 2021 AGM. The Board expects to announce a new dividend policy for the Group with FY2020-21 results on 20 May.
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It's good to get these types of threads, the ridiculous my manager said bollox so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low life c***s they have always been.
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