Our half year results
Profitability performance in line with our expectations for the half year
We have announced our results for the six months ended 29 September 2019.
Profitability performance was in line with our expectations for the half year.
Here are the headlines:
- Group profit of £165m*, down 13.2%
- UK profit of £75m*, down 33.6%
- UK parcels performing well. Volumes up 5% and money we earn up 5.6%
- Addressed letter volumes down 5%. Down 8% (excluding European parliamentary elections). Money we earn from letters down 1.4%
- UK productivity improved by 2.2%. £86m of costs avoided. Operating costs up 2.9%.
Click here to read your Colleague Update on today’s results. Look out for more information about our performance on next week’s RMtv.
*Adjusted operating profit including transformation costs.
