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Royal Mail warns public service at risk without regulation

Newly-privatised Royal Mail has announced a 12 percent rise in full-year profit, but says its business is facing tough headwinds from increasing competition. Bosses are warning that the public service it offers is not sustainable without change.

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Parcels help boost Royal Mail profits

FIle photo of a Royal Mail sign. Credit: PA Images

Parcel revenues have helped boost Royal Mail profits, the delivery service has announced today.

Parcel revenues increased by 7% but in volume terms the one billion items delivered in the period was flat compared with the previous financial year.

Addressed letter volumes declined by 4% but the trend improved over the year due to stronger economic conditions and one-off impacts such as energy companies writing to customers about price rises.

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