- 27 February 2017
- Transport / Logistics Services
Stamps are to go up by a penny according to Royal Mail. From the 27th March a First Class will go up by 1p to 65, while Second Class stamps will increase to 56p from 55p.
Large Letter stamps are to go up as well. The price of a Large Letter First Class stamp is to go up by 2p to 98p, while the price of a Large Letter Second Class stamp is to go up by 1p to 76p.
Royal Mail released a statement on Friday that said that the increases are necessary to, “help ensure the sustainability of the Universal Postal Service”.
Royal Mail added: “Our stamp prices are amongst the best value in Europe when compared to our counterparts. The European average for First Class letters (0-100g) is 87p. The UK First Class stamp price remains below this. The European average for Second Class letters (0-100g) is 67p. The UK Second Class stamp price remains below this.”
While volumes fall, the profits seem to steadily increase as the postal operator seeks competitiveness now it is mostly privatised. Royal Mail seems to be going from strength to strength from its shareholders’ perspective, as the company diversifies and maximises its profits from many new and older lines of business.
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