Home Business NewsFinance News Royal Mail sees parcels revenue fall as competition heats up

Royal Mail sees parcels revenue fall as competition heats up

by LLB Editor
22nd Jul 14 8:54 am

Royal Mail chief executive Moya Greene is likely to have a tough week as the postal service is set to have its first annual general meeting after the privatisation on Thursday.

This is because despite an increase in volume, parcels revenue was down 1% in the three months to 29 June compared with the same period last year.

Greene said that “parcels revenue for the year is likely to be lower” than Royal Mail had expected.

Royal Mail admitted feeling the heat from competitors to maintain its position in the parcel delivery market.

In a statement, Royal Mail said that competition “has intensified more than expected as other carriers seek to fill capacity in their networks by aggressively reducing prices”.

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