Financial and business performance highlights
Revenues of £9.2 billion. Inland addressed volumes down by 4% with revenues falling by £121 million.
Operating profit after modernisation costs of £39 million** is £141 million lower than last year, driven by the reported revenue decline. Improved free cash outflow of £213 million down from £545 million as a result of lower modernisation costs and one-off disposals proceeds this year.
The postal world is changing rapidly; so too are all communication channels. The lives of everyone in Royal Mail Group are affected.
Chief Executive’s Review
We have a clear plan in place to deal with our difficult business environment. It will be a stretch to achieve our plan, but we are determined to do so.
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© Royal Mail Group Limited 2013