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.

View all 6 updates ›

Royal Mail reports profits rise after privatisation

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.

ITV News Business Editor Joel Hills reports:

The postal firm said operating profit before transformation costs rose to 671 million pounds in the year to March 30, in line with a company compiled consensus forecast.

Group revenue rose 2 percent to 9.46 billion pounds, with a 7 percent rise in parcel sales offsetting a 2 percent fall in UK letter sales.

More top news