ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (Updated 2021)... HERE

ROYAL MAIL DELAYS : PLEASE BE AWARE THAT THERE IS A BIT OF A BACKLOG IN THE SYSTEM, WE ARE DOING OUR BEST TO DELIVER WHAT WE CAN DAILY BUT UNFORTUNATELY IN SOME AREAS THERE WILL BE DELAYS. PLEASE HAVE SOME PATIENCE AS WE ARE DOING WHAT WE CAN.Postal workers of royalmailchat.co.uk


AGM trading statement for the three months ended June 2021 : A strong revenue performance across the Group means the Company is remaining confident in its outlook

Latest Royal Mail and CWU news.This is an open forum.
Post Reply
User avatar
POSTMAN
SITE ADMINISTRATOR
Posts: 26948
Joined: 07 Aug 2006, 03:19
Gender: Male
Contact:

AGM trading statement for the three months ended June 2021 : A strong revenue performance across the Group means the Company is remaining confident in its outlook

Post by POSTMAN »

https://www.royalmailgroup.com/en/press ... june-2021/

Royal Mail plc (RMG.L) will hold its 2021 Annual General Meeting (AGM) today at 11.00. In line with the update published yesterday, in the interests of health and wellbeing the Board very strongly requests that shareholders do not attend in person. Royal Mail plc Chair, Keith Williams, Royal Mail Chief Executive Officer, Simon Thompson and GLS Chief Executive Officer, Martin Seidenberg will comment on the performance of the Group in 2020-21 and provide an update on the Group's progress in the first quarter of 2021-22. The results of voting at the AGM will be announced later today.

Trading update for the three months ended June 2021.

Given the unprecedented impact of the COVID-19 pandemic over this last year, we are providing both one-year and two-year comparisons for the first quarter. The two-year (pre-COVID) comparisons may prove helpful in assessing underlying trends and business performance.

Keith Williams, Chair, commented:

“The first quarter saw a strong revenue performance across the Group, with both Royal Mail and GLS reporting higher revenues than the prior year.

“For Royal Mail, as expected, parcel volumes decreased and letter volumes increased compared to the exceptional period last year encompassing the UK’s first lockdown, when non-essential retailers closed for the first time. We are starting to see evidence that the domestic parcel market is re-basing to a higher level than pre-pandemic, as consumers continue to shop online.

“For GLS, as expected, parcel volume growth continued albeit at a slower rate, due to the exceptionally strong comparators from the same period in 2020-21.

"As pandemic restrictions continue to ease there is still uncertainty about levels of COVID transmission, the impact on consumer behaviour and economic factors such as GDP growth and inflation, all of which will impact on future performance. We continue to expect fluctuations in volumes as we emerge from COVID restrictions, which we will need to manage accordingly. Nonetheless we are encouraged by the revenue performance across Royal Mail and GLS in the first quarter, and notwithstanding the current uncertainty, remain confident about the full year.”

Group

Group revenue grew by 12.5% vs Q1 2020-21 and by 20.2% compared to Q1 2019-20;
Prospects for full year performance remain unchanged.
Royal Mail

Revenue: Increased 12.2% vs Q1 2020-21; Increased 13.4% vs Q1 2019-20;
Parcel volumes: Decreased 13% vs Q1 2020-21; Increased 19% vs Q1 2019-20;
Parcel revenue: Increased 3.4% vs Q1 2020-21; Increased 36.2% vs Q1 2019-20;
Addressed letter volumes (excluding elections): Increased 22% vs Q1 2020-21; Decreased 18% vs Q1 2019-20;
Total letter revenue: Increased 25.7% vs Q1 2020-21; Decreased 6.6% vs Q1 2019-20.

GLS

Revenue: Increased 12.4% vs Q1 2020-21; Increased 36.6% vs Q1 2019-20;
Volume: Increased 10% vs Q1 2020-21; Increased 34% vs Q1 2019-20;
Reiterating full year GLS guidance: low single digit % revenue growth and c. 8% operating margin.
Royal Mail

Royal Mail revenue in the first quarter increased by 12.2% year on year, and 13.4% over two years. As previously stated, the significant short-term uncertainty as we begin to unwind from the impacts of the pandemic means we are not issuing guidance for 2021/22 at this stage.

The first quarter of last year included the UK’s first lockdown when all non-essential retail was closed and people were required to stay at home. Consequently, total parcel volumes in the first quarter this current financial year decreased compared to the same period last year (-13%), with the rate of decline increasing across the quarter as lockdown measures were eased. Total parcel revenues increased (+3.4%) due to positive product mix.

The domestic parcel market remains strong. The early signs are that domestic parcel volumes appear to be re-basing at a higher level than pre-COVID as consumers continue to shop online. While domestic parcel volumes decreased 7% year on year, they increased by more than a third (+35%) compared to pre-COVID levels in 2019-20. International volumes were lower than the prior year, continuing the trend seen in the second half of 2020-21, due to a number of factors outlined previously including reduced air freight capacity and increased conveyance costs, and the transition to a new trade deal with the EU. As lockdown restrictions progressively ease, we continue to expect month-on-month fluctuations in parcel volumes. The future evolution of the pandemic, including levels of COVID transmission, consumer behaviour and economic factors such as GDP growth and inflation will impact on future performance.

Addressed letter volumes (excluding elections) increased, as did total letter revenue, compared to the same period last year, when the first lockdown meant that many businesses closed for the first time. Overall the structural decline in letters continues, with volumes down 18% compared to two years ago.

Royal Mail continues to make good progress on the delivery of the CWU Pathway to Change agreement and the delivery of non-staff cost savings of £110m are on track. We are also benefitting from the recent introduction of new products and services to meet changing customer demands, such as the roll out of parcel deliveries on Sundays and the introduction of Parcel Collect, our doorstep parcel collection service.

GLS

GLS delivered good volume and revenue growth in the quarter, both year on year and vs. Q1 2019-20.

Volume growth in the first quarter was 10%, or 34% compared to the first quarter of 2019-20. Volume growth slowed as a result of lapping the strong volumes seen during the first COVID-19 lockdown last year and the easing of restrictions in a number of countries. We have seen the share of B2B increasing due to recovering B2B volumes, combined with slowing B2C volume growth compared to last year.

Revenue growth of 12.4% (15.6% growth in €) compared to 2020-21, or 36.6% (38.5% growth in €1) compared to 2019-20, was driven by volume growth but also benefitted from improved prices and higher freight revenues, which were particularly negatively impacted by the shutdown of retail during the first COVID-19 lockdowns.

Revenue growth is expected to slow as the year progresses, due to easing of lockdown restrictions across the GLS footprint and stronger prior year comparators in the second half.
1.png
2.png
You do not have the required permissions to view the files attached to this post.
VERY IMPORTANT AND INFORMATIVE CORONAVIRUS THREAD HERE
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.
User avatar
POSTMAN
SITE ADMINISTRATOR
Posts: 26948
Joined: 07 Aug 2006, 03:19
Gender: Male
Contact:

Re: AGM trading statement for the three months ended June 2021

Post by POSTMAN »

https://www.myroyalmail.com/news/2021/0 ... -confident

Remaining confident
We’ve issued a trading update for the first three months of the year


A strong revenue performance across the Group means the Company is remaining confident in its outlook, despite ongoing uncertainty.

That comes as we’ve shared an update to the markets on our performance in the first three months of the year, ended June 2021.

The results compare our performance to the first quarter last year, which coincided with the first lockdown in the UK, when non-essential shops were closed and online shopping boomed.

Chairman, Keith Williams, said: ‘For Royal Mail, as expected, parcel volumes decreased and letter volumes increased compared to the exceptional period last year encompassing the UK’s first lockdown, when non-essential retailers closed for the first time. We are starting to see evidence that the domestic parcel market is re-basing to a higher level than pre-pandemic, as consumers continue to shop online.’

The great news is that revenues – that’s the money we make overall, not profit – are up compared to the same period last year.

Royal Mail revenue increased 12.2% year on year.

The numbers show that total parcel volumes are down year on year – by 13%.

But the signs are that parcel volumes are re-basing at a level than was higher than pre-pandemic. Compared with 2019/20, total parcel volumes are up 19%, and domestic parcel volumes are up around 35% in two years.

Letter volumes excluding elections are up year on year with a 22% increase. This is from a low base though – most businesses weren’t open this time last year. And overall they are still in decline - compared to 2019-20 they’ve fallen 18%.

‘The first quarter saw a strong revenue performance across the Group, with both Royal Mail and GLS reporting higher revenues than the prior year,’ said Keith.

‘For GLS, as expected, parcel volume growth continued albeit at a slower rate, due to the exceptionally strong comparators from the same period in 2020-21.

‘As pandemic restrictions continue to ease there is still uncertainty about levels of Covid transmission, the impact on consumer behaviour and economic factors such as GDP growth and inflation, all of which will impact on future performance.

‘We continue to expect fluctuations in volumes as we emerge from Covid restrictions, which we will need to manage accordingly. Nonetheless we are encouraged by the revenue performance across Royal Mail and GLS in the first quarter, and notwithstanding the current uncertainty, remain confident about the full year.’
VERY IMPORTANT AND INFORMATIVE CORONAVIRUS THREAD HERE
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.
Post Reply

Who is online

Users browsing this forum: grapeshot, SemrushBot and 4 guests