Outlook
Our expectations for our full year results
In our trading update on 1 October, we announced that UK productivity was significantly below plan. We therefore lowered our 2018-19 cost avoidance target to £100m. We also lowered our expected profit for the year.
Our revised outlook and other guidance for the full 2018-19 financial year is unchanged.
- We expect our Group adjusted operating profit before transformation costs to be £500m to £550m on a 52-week basis.
- We expect the decline in addressed letter volumes (excluding election mailings) to be similar to the first half of the year.
- We are committed to our revised cost avoidance target of £100m.
- We expect our UK parcel volumes and revenue growth rates to be better than in 2017-18.
We are currently taking a clear look at our strategy and direction for the next five years. We will share an update with colleagues and investors in March 2019.
