November 21, 2019 / 7:36 AM / 22 days ago

UK's Royal Mail posts a profit in H1 as parcel-led turnaround gains momentum

Nov 21 (Reuters) - Royal Mail, one of the world’s oldest postal services, on Thursday posted an operating profit in the first half compared with a loss last year, benefiting from higher parcel volumes as its turnaround plan progresses.

The company, which was fined 50 million pounds ($64.62 million) in 2018 by regulator Ofcom, reported a wider operating loss of 25 million pounds in first half at its core UK parcels, international and letter division due to a provision for the fine.

Overall operating profit for the six months ended Sept.29 was 61 million pounds, compared with a loss of 4 million pounds last year. ($1 = 0.7738 pounds) (Reporting by Yadarisa Shabong and Shashwat Awasthi in Bengaluru; editing by Uttaresh.V)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below