Q3 Trading Update

This morning we released our trading update for the nine months to the end of December 2023, which includes the important peak period.

There was a marked improvement in both trading and operational performance for Royal Mail over Christmas:

• Royal Mail had its best Christmas operational performance for four years.

• We met our customer commitment to deliver items posted by the last recommended posting dates – independent data shows that more than 99% of first and second class items posted by the last recommended posting dates were delivered in time for Christmas.

• Compared to the first nine months of the previous year, Royal Mail’s revenues are 2.8% higher – reflecting the impact of industrial action last year and that we are now winning back customers.

Thank you to everyone across Royal Mail for their extraordinary efforts delivering Christmas for our customers.

We have made improvement, but we must build on this momentum

We are making progress and the business is heading in the right direction. But we must not lose momentum at this critical time. Improving Quality of Service remains a top priority as we are not currently meeting our USO targets.

We must now drive forward our transformation agenda to sustainably improve our quality of service across both letters and parcels.

To do so, we are getting on with implementing the changes set out in our CWU agreement, which provides a solid foundation for quality improvements and future growth. We are also actively looking ahead at our strategic development, including how we best serve our customers in the future, and the network required to enable this.

Thank you

Thank you for all of your hard work so far this year. As we move into Q4, let’s build on our Christmas performance and ensure that Royal Mail can reach its full potential.

RM Communications

Find our market announcement here.