Royal Mail to increase prices and slash costs due to inflation (printweek.com)

In its full-year results for the 52-week period ended March 2022, the postal operator achieved revenue of £12.71bn, up 0.6% on the £12.64bn it achieved a year earlier. This included sales from its overseas parcels business GLS.

On a reported basis, the company recorded a pre-tax profit of £662m, down 8.8% on last year, and an operating profit of £577m, down 5.6%.

Its adjusted operating profit was up 8% at £758m while its adjusted pre-tax profit figure was up 6.5% at £707m.

The business said that while the pandemic had resulted in an increase in parcel volumes, some of the tailwinds it experienced in the last year have subsided, and while it has seen a recovery in letter volumes, “parcel volumes and shifts in mix continue to be volatile”.
see more at source: https://www.printweek.com/news/article/royal-mail-to-increase-prices-and-slash-costs-due-to-inflation

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