Full year results 2019-20

We faced significant challenges before COVID-19

We have announced our full year results for the year ended 29 March 2020 and provided an update on trading in the first two months of 2020-21.

Keith Williams, interim Executive Chair, Royal Mail Group said: “In recent years, our UK business has not adapted quickly enough to the changes in our marketplace of more parcels and fewer letters. COVID-19 has accelerated those trends, presenting additional challenges. We are implementing a three-step plan to ensure Royal Mail remains a key part of the UK economy, a good employer, and the nation’s delivery partner of choice.”

Here are the headlines of 2019-20:

UK profit down 41.2%*, even including over £80m revenue benefit from two elections.
- Parcel volumes up 2%. UK parcel revenue up 4.6%.
- Addressed letter volumes, excluding elections, down 8%, in line with previous guidance. Total letter revenue down 0.9%. Mainly due to election benefit.
- Group profit down 13.6%* at £325m. Around two-thirds from GLS.

For an update on trading in the first two months of 2020-21, click here.

Materials for you:

Click here to read a letter from our interim Executive Chair, Keith Williams, about the challenges our business faces and our three-step plan for addressing them.

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

Watch our RMtv Special to hear from our UK CEO, Stuart Simpson.

*Adjusted operating profit including transformation costs on a 52 week basis.