UK parcel volumes were up three per cent at Royal Mail in the three months to 28th June, while parcels revenue was up by two per cent, the group’s first quarter trading update reveals.
However, its letters business was down – volumes were down five per cent and revenue was down four per cent.
Parcelforce Worldwide was a highlight reporting a 20 per cent volume increase. GLS, the continental parcels business, also performed strongly with volumes up nine per cent and revenue up eight per cent.
CEO Moya Greene said: “In the first three months of our financial year we have seen a continuation of the overall market trends we saw last year. We have benefitted from the parcel initiatives that took effect in the second half of last year and a good performance from GLS. Our trading environment remains challenging and we are stepping up the pace of change to drive efficiency, growth and innovation, while maintaining a tight focus on costs.”
