Royal Mail half-year profits tumble

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© Gorgios

By Alexander Whiteman

17/11/2017

Royal Mail’s half-year profits dropped by almost a third, with its UK arm flailing as efforts to reach a deal with unions over pay and pensions drag on. The Independent reports that pre-tax profits dropped 30% to £77m, leaving the service reliant on a bumper festive period to correct the situation. But a strong performance from European parcel delivery subsidiary General Logistics Systems helped secure a 2% increase in group revenues to £4.8bn.

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Topics

General Logistics Systems Royal Mail The Purse Strings Clipper Logistics Customer returns & reverse logistics Germany GXO Logistics Takeover Talk

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