Royal Mail: Half year trading statement 2008-09 (UK)
Royal Mail Group’s operating profit more than doubled from GBP 86 million to GBP 177 million in the first half of the 2008-09 financial year compared to the same period the previous year despite a further fall in mail volumes, the company announced today.
The strong financial performance came alongside a rise in customer quality of service with the most recent figures showing the vast bulk of mail hitting or exceeding its targets.
Operating profit grew by GBP 91 million in the first half of the year compared to the same period last year. The company’s continued focus on reducing overheads as competitive and economic pressures mount played a significant role in the financial uplift with reductions in IT and other costs in the Post Office network and efficiency gains in the Royal Mail Letters business.
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