Royal Mail Records Growth In Parcel Volumes And In Europe

[TrueBlueTerrier]

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Royal Mail PLC on Thursday said growth in UK parcel volumes was offset by a continued decline in letter volumes during in the first nine months of 2018 financial year.


The company, which recorded 2% revenue growth for the nine-month period, added that it saw strong volume and revenue growth in its European logistics division, General Logistics Systems.

The former state-owned postal services recorded growth of 6% in volume and 4% in revenue for its UK parcels division in the nine months to December 24. It handled 149 million parcels over the key Christmas trading period.

UK addressed letter volumes were down 5%, resulting in 3% revenue drop in the period.

The company's European arm recorded 10% year-on-year growth in volumes and revenue in the nine-month period. The strong performance was attributed to timing of Easter and other public holidays across the continent.

"Given our performance to date, we expect to see broadly similar volume and revenue trends in UK parcels and letters for the full year as in the nine months. In GLS, we expect underlying revenue growth for the full year to be broadly in line with the first half," said Chief Executive Officer Moya Greene.

Shares in Royal Mail were down 1.1% at 461.90 pence in early trade Thursday.

[El-Bandito]

Fake news.Has to be! Why would our doms constantly tell us that figures are down, it is quiet,we are lazy fooks? If you don't like it there's the door etc!Has to be fake news.