LONDON (dpa-AFX) - Royal Mail plc (RMG.L) reported a 20% growth in group revenue for the third quarter, and 13.5% revenue growth in the 9-months period ended December 2020.
Group revenue for the 9-months to December 2020 was £9.31 billion, 13.5% higher than the previous year's revenue of £8.20 billion.
The company noted that the third quarter saw unprecedented parcel volumes in Royal Mail, driven by online shopping and the peak Christmas period, with 496 million parcels handled. The decrease in addressed letter volumes slowed to 14% in Q3, with a decline of 9% in December, compared to around a third earlier in the year, excluding the impact of elections.
Citing the stronger than anticipated trading, primarily driven by further COVID-19 restrictions and improved letter volumes, the company currently expects group adjusted operating profit to be well in excess of £500 million for FY2020-21. Full year adjusted operating profit margin is expected to be broadly in line with the first half of 8.9%.
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