Trading update

We have issued our trading update for the nine months ended 29 December 2019.

Group CEO, Rico Back, said:

“We had a busy Christmas season. We achieved a high standard of service for our customers across the UK. I thank you for your commitment.

“Overall, our recent trading performance has been broadly in line with our expectations. We confirm adjusted Group operating profit is expected to be £300-340 million (before IFRS 16) for 2019-20.

“We are disappointed that the CWU has issued a timeline for a ballot of its members for industrial action. We stand ready to invest £1.8 billion to modernise and grow in the UK. We want to reach agreement with CWU; but we cannot afford to delay this essential transformation any longer. So we are proceeding with key national trials and local initiatives, to improve our customer offering and grow the business, whilst maintaining good quality jobs and delivering a sustainable Universal Service.”

Click here to read your Colleague Update on today’s results.

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