Royal Mail Christmas parcel deliveries rise 4%

[TrueBlueTerrier]

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Royal Mail says it delivered 120 million parcels during December, a rise of 4% on a year earlier.

Its latest trading statement, it said that over the past nine months parcel deliveries were up 3%, with parcel revenues, worth half of group sales, flat over the period.

The number of letters delivered fell by 3%.

The company, which was privatised in 2013, said it expected to meet its full-year profit expectations.

[TrueBlueTerrier]

Royal Mail revenues up 1%, sees parcel improvement

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Britain's Royal Mail said group revenue for the nine months to December 28 rose 1%, marking a slowdown from the half year as an improved parcels performance was offset by fewer letters sales.

Shares in Royal Mail, privatised amid much controversy in October 2013, have fallen 28% in the past year.

Its prospects have been hit by rising competition in parcel delivery and regulatory disputes.

In November, the firm warned growth in the UK parcels market would fall from 4-5% to 1-2% for at least two years as key player Amazon delivers more of its own packages and others add capacity to deal with rising online retail demand.

Royal Mail said today that its UK parcels business, worth half of group sales, saw a strong Christmas help volumes rise 3% in the period, with revenue improving to flat having been down 1% at the half year.

UK letters volumes fell 3%, as expected due to the rising use of email, with revenue slowing from a first half rise of 1% to flat for the nine months.

The firm's European parcels division fared much better with revenue up 8%. In total, group revenue for the nine months rose 1%, compared to 2% at the half year stage.

Rival UK Mail said this month it had handled record parcel volumes in the build-up to Christmas with business boosted by the demise of courier City Link, which fell into administration in December.

Royal Mail said UK costs would be flat for the full-year and that it expected to meet its profit expectations, with analysts on average forecasting operating profit before transformation costs of £585m.

[IloveMYredTROLLEY!]

...And who knows how much better the profit margins would have been, if the genius plan to reduce the cost of small parcels was not introduced on the approach and through Xmas pressure!

[bustedflush]

......and don't forget RM's diesel bill has fallen nearly 25% over recent weeks, which given the vast amount they spend on the stuff must be a boon to profits at the moment.