Parcelforce moves back into profit

Parcelforce has just about moved into modest profit after a decade of losses. It reported a profit from operations in the second half of the financial year, although for the year it lost GBP13m on a turnover of GBP298m. The loss is an improvement on last year when Parcelforce lost GBP54m. Turnover increased by 5.6%. ‘The business‘s radical restructuring, with a focus on express, time guaranteed services for customers is paying off,‘ says Allan Leighton, Royal Mail chairman.