UK Royal Mail expected to post operating profit

Royal Mail is set to unveil its first profit since Allan Leighton took over as chairman early 2002 and the postal group began a three-year turnaround project.

Mr Leighton is expected to disclose that Royal Mail group returned to the black in the six months to September with operating profits of £40m – £50m.

In a reversal of fortunes that will be seen as a vindication of his overhaul, Mr Leighton is also expecte to declare interim pre-tax profits of more than £3m, against the loss of £611m last year.