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Royal Mail posts strong rise in profits as parcels improve

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Royal Mail's annual profits have jumped 25% thanks to better-than-expected growth in its parcel delivery business. Parcel deliveries rose 9% thanks to shoppers' insatiable appetite for online shopping, although the number of letters posted fell by 6%. Bosses put the rise in parcels down to upgraded computer systems, which allow the packages to be sorted faster. Pre-tax profits rose to £335m in the year to 26 March from £267m, while revenues grew 5.7% to £9.8bn. Chief executive Moya Greene said: "We have made good progress against all of our strategic priorities. This has been a more challenging period for UK businesses and we have come through it well."

About the author

Philip Scott

Head of Equities, Director

Philip has worked as a Private Client Stockbroker for nearly 20 years, commencing his career in Operations with Rensburg Sheppards (now part of Investec plc) before spending 9 years with Killik & Co advising on and directly managing portfolios. He joined SI Capital in 2006 to head up the Private Client Advisory desk.

Philip is a regular contributor to local media commenting on stock market dynamics and is a Chartered Member of the Chartered Institute for Securities & Investment (MCSI). His RDR qualification gained special recognitionfrom the CISI for achieving the highest combined pass mark in the country for the Investment Advice Diploma in 2012.

“At SI Capital I enjoy being part of a talented team who collectively share the same desire to provide excellence in service.  My focus is to ensure that each client receives effective and optimal management of their assets.”

Philip lives locally, is married with 2 daughters and is an avid sports fan (if now predominantly from the sidelines).  His other interests include music and film.

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