MRM.COM : Trading Update : Busiest quarter for parcels in Royal Mail's history

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https://www.myroyalmail.com/news/2021/02/trading-update

Trading Update

Busiest quarter for parcels in Royal Mail’s history

We have issued a trading update covering our performance in the nine months ended December 2020. See below for the headlines for the first nine months, compared to the same period last year:

• Parcel volumes grew by 31%
  Addressed letter volumes (excluding elections) declined by 23%
  This has helped us to deliver 9.3% growth in revenue (that’s the money we make, not profit).
  This is the highest revenue growth since privatisation in 2013.

CEO Simon Thompson comments that now is the time to reflect on the herculean effort the business has made, but we still have a lot more work to do.

‘The growth in revenue is, of course, good news. If we continue in this direction, we could now be better than break even by the end of the financial year. You may remember it is only six months ago we were expecting the UK business to be materially loss-making.

‘We will likely be significantly less profitable than many of our postal peers across Europe and of course GLS. Let’s keep working brilliantly together to seize the great opportunity in front of us.’

Colleague update
Full Royal Mail press release here...
viewtopic.php?f=18&t=99488

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https://www.myroyalmail.com/news/2021/0 ... -our-focus

Our customer, our focus
CEO Simon Thompson on driving change following today’s Trading Update

In a first for the business, today’s Q3 Trading Update reveals what many have suspected: this was our busiest quarter for parcels in Royal Mail’s history.

CEO Simon Thompson says although we have a great opportunity ahead of us, we need to keep driving change to make the most of it.

‘At times recently, our service has not been as we would all have wished. The unprecedented volumes, combined with much higher levels of COVID-related absences and the bad weather has made it challenging to meet our usual high standards.’

Simon says the following two key priorities will ensure we win market share by being better for our customers:

Stay razor focussed on the customer and delivering what they need, and
Transform everything we can, as quickly as we can to make sure we can deliver for our customers, profitably
‘Thanks to your extraordinary efforts, our investment in people and new processes, we are making encouraging progress,’ says Simon.

‘Let’s keep going! It is what our customers, rightly, expect.’

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