Royal Mail reports 4% rise in operating profit

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Royal Mail has reported an operating profit of £184m for the six months to September, up 4% on the same period last year.

But the company also announced that it had paid more than £300m into its pension fund over the period.

Royal Mail's pension fund deficit is being revalued and is expected to reach £10bn, compared with £3.4bn at the last valuation three years ago.

The company said reducing the deficit remained a "daunting challenge".