Trading update
We have issued a trading update covering our performance in the nine months ended 23 December 2018. Here are the key points:
• Recent trading performance was broadly in line with our expectations
• Money we earn as a Group up 2%*
• Money we earn in the UK down 1%; this has not grown since 2013-14
• UK parcel revenue growth was not enough to offset the fall in total letter revenue
• UK parcel volumes and revenue both up 6%
• Addressed letter volumes (excluding political parties’ election mailings) down 8% and total letter revenue down 6%
• GLS volumes up 5% and revenue up 8%.
Commenting on our Christmas performance, Group CEO, Rico Back, said: ‘We have had a busy Christmas season. In the December trading period alone, we handled 164m parcels, up 10% compared with last year. Our people delivered a great Christmas. Thank you for all your efforts.’
Click here to read a Colleague Update on today’s results. Watch next week’s RMtv for more on our trading update.
*Movements in money we earn, costs, profit, margin and volumes are shown on an underlying basis unless otherwise stated. ‘Underlying’ means we have adjusted for certain items to make the results easier to compare and understand.
