Royal Mail plc Interim Management Statement

[POSTMAN]

http://www.royalmailgroup.com/royal-mai ... -statement" onclick="window.open(this.href);return false;

Royal Mail plc (RMG.L) today issued its Interim Management Statement covering the financial position and trading performance of the Group for the three months ended 29 June 2014 and including the period from 31 March 2014 to date.

Moya Greene, Chief Executive Officer, Royal Mail plc, said: “In the first three months of our financial year we have delivered low single digit revenue growth in line with our strategy. Trading has been characterised by a good performance in letters, with the decline in addressed letter volumes better than our expected range, but a weaker than expected performance in UK parcels, largely driven by the intensifying competitive environment in the account, consumer/SME and export channels. GLS continues to perform well in Europe. On costs, performance is better than expected.

“Given the increasing challenges we are facing in the UK parcels market, our parcels revenue for the year is likely to be lower than we had anticipated. However, through cost control measures and with continued good letters performance we expect to be able to offset the impact on profit such that our overall performance would remain in line with our expectations for the full year. Our parcels revenue will be dependent on our performance in the second half, which includes the Christmas trading period, and on no further weakening in our addressable UK parcels market.” -

See more at: http://www.royalmailgroup.com/royal-mai ... XdqRj.dpuf" onclick="window.open(this.href);return false;

[red666bear]

Letter volumes down 3% but they didn't include the local and European elections traffic.

Letter revenue up 3% because they did include the uplift from elections traffic.

Fudging the figures to suit themselves.

Love Nick Leeson c/o Singapore.

[oypostie]

Our parcels revenue will be dependent on our performance in the second half, which includes the Christmas trading period, and on no further weakening in our addressable UK parcels market.” -

We're all doomed