Royal Mail continues to grow

Royal Mail’s revenues for the year end 25th March grew by 2% and took it through the £10 billion barrier.

In a statement the postal operator reported it had a revenue of £10.72 billion, that is up from £9.77bn in 2017. Adjusted operating profit after its transformation costs grew by 6% to £581 million.
Commenting on the results, Moya Greene, the outgoing Chief Executive Officer, said: “It has been another successful year, despite the challenging environment.

“Group revenue is now over £10bn, a significant milestone, thanks to our geographical diversification and focus on growth.

“GLS had another strong year. Its revenue grew organically and through targeted acquisitions in higher growth markets.

“Parcel volume growth in UKPIL was our best for four years.

“We delivered a resilient letters performance.

“We continue to focus on cost avoidance and parcel revenue growth in the UK and through GLS.

“The good cash generation characteristics of our business will support our progressive dividend policy.”