LONDON (dpa-AFX) - Royal Mail Plc (RMG.L) Tuesday said it continues to expect fiscal 2021 group adjusted operating profit to be around 700 million pounds.
In its pre-close trading update, the company said its trading has been broadly in line as said in early March.
The company also issued an update on GLS business. For fiscal 2021, GLS adjusted operating profit is expected to be around 350 million pounds or 390 million euros, and adjusted operating profit margin of about 8.7 percent.
The company also outlined medium term targets for the GLS business, including a focus on International and B2C as key growth opportunities.
By fiscal 2025, GLS expects to grow revenue at around 12 percent CAGR from 3.61 billion euros in fiscal 2020. The company also projects more than double operating profit to 500 million euros from fiscal 2020, and generate 1 billion euros of free cash flow. Capex over the period is expected to remain in the range of 3-4 percent of revenue.
Further, Royal Mail said its Board considers it is appropriate to pay a one-off final dividend of 10p per share in respect of fiscal 2021, payable on September 6 to shareholders on the register at July 30.
The Board expects to announce a new dividend policy for the Group with FY2020-21 results on May 20.
Copyright RTT News/dpa-AFX