2018-19 Outlook

Today, we said that our recent trading performance was broadly in line with our expectations.

We also:
• Now expect to deliver adjusted Group operating profit before transformation costs of £500-£530m in 2018-19;
• Still expect UK parcels to do better in 2018-19 than in 2017-18;
• Expect the decline in addressed letter volumes, excluding elections, to be 7-8% for 2018-19;
• Said that the decline in addressed letter volumes, excluding elections, is likely to be outside our forecast medium-term range of 4-6% in 2019-20;
• Confirmed that our cost avoidance programme remains on target to deliver £100m of costs avoided in 2018-19.

Otherwise, the outlook we provided in our half year results in November 2018 has not changed. 

Strategy review

Our Capital Markets Day will be held shortly after our Full Year Results in May. We will provide an update on a wide range of topics. This will be supported by a comprehensive campaign to share our plans with colleagues. 

Click here to find the Colleague Update on our trading update.