Royal Mail posts a profit in first-half as parcel-led turnaround gains momentum [Reuters (UK)]
INTERNATIONAL DIST U/ADR (ROYMY)
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Source: Reuters
Royal Mail posts a profit in first-half as parcel-led turnaround gains momentum - Reuters 1 Min Read (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. Reporting by Yadarisa Shabong and Shashwat Awasthi in Bengaluru; editing by Uttaresh.V All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2019 Reuters. All Rights Reserved.
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