Moya Greene, Chief Executive Officer, Royal Mail plc, said:
"In the first three months of our financial year we have seen a continuation of the overall market trends we saw last year. We have benefitted from the parcel initiatives that took effect in the second half of last year and a good performance from GLS. Our trading environment remains challenging and we are stepping up the pace of change to drive efficiency, growth and innovation, while maintaining a tight focus on costs."
- Parcel performance in part reflects a relatively weak comparative period last year.
- Parcel volumes were up 3%, supported by continued growth in low AUR import parcels and a 20% increase in Parcelforce Worldwide, our smaller express parcels unit. In account parcels, we benefitted from the initiatives that took effect in the second half of last year. We successfully targeted new sectors of the market and benefitted from opening our network later and at the weekend.
- Parcel revenue was up 2% due to the pricing environment which remains very competitive in all the major segments, in particular Parcelforce Worldwide and export parcels.
Outlook
Our outlook for letter and parcel trends and other guidance remain unchanged from that set out in our Financial Report for the full year ended 29 March 2015 issued on 21 May 2015. In particular, we remain focused on costs and continue to target flat or better UKPIL underlying costs for 2015-16. As in previous years, our performance will be weighted to the second half and will be dependent on our important Christmas period.
The results for the half year ending 27 September 2015 are expected to be announced on Thursday 19 November 2015.
Source: Royal Mail Group
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