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News and press releases

  • Royal Mail Group
    Cover of Royal Mail Group Interim report 2012-13 - postman delivering mail to a house
    13 November 2012
    Interim Report for the half year ended 23 September 2012

View or download our Interim Report for the half year ended 23 September 2012.

 

Individual business highlights

                                              Revenue

Operating profit/(loss) after
transformation costs
 

Half year ended
23 September
2012 (£m)

Half year ended
25 September
2011 (£m

Half year ended
23 September
2012 (£m)


Half year ended
25 September
2011 (£m)
 
UK Parcels, International and Letters (UKPIL) 3,635 3,426 99 (41)
General Logistics Systems (GLS) 712 778 45 58
Other businesses 8 12 - (5)
Royal Mail Group 4,355 4,216 144 12

 

Profits and margins

  • At £144 million, Group operating profit after transformation costs increased from £12 million last year. This is the second consecutive year of profit growth in the first half at the Group level.
  • The Group margin after transformation costs increased from 0.3 per cent to 3.3 per cent.
  • UKPIL posted a profit of £99 million (September 2011 £41 million loss). Its margin was 2.7 per cent (2011 minus 1.2 per cent).

Revenue and volumes

  • Group external revenue increased by 3.3. per cent to £4,355 million (September 2011 £4,216 million). UKPIL, our core UK business, delivered a 6.1 per cent revenue increase to £3,635 million (September 2011 £3,426 million).
  • Group parcel revenue of £2,059 million increased by 4.6 per cent (September 2011 £1,969 million); UKPIL parcel revenue was up 13 per cent to £1,347 million. Group parcel volumes were 4.2 per cent higher with UKPIL volumes up 5.6 per cent.
  • UK letter revenue (including unaddressed letters) was 2 per cent higher, following price increases in April. In line with expectations, traditional addressed letter volumes in the UK declined by 9 per cent.
  • At GLS, underlying revenue was broadly unchanged (September 2012 €886 million; September 2011 €884 million). It was lower when converted to Sterling, due to the weaker Euro. Volumes were broadly level at 182 million items.
     

Cash flow and balance sheet

  • Free cash inflows of £218 million (September 2011 £237 million), were generated. In the last six months, net debt5  reduced by £214 million to £972 million.

5

Net value of our financial liabilities (excludes derivatives, includes borrowings) against our cash and other liquid assets.

Note to editors:

View key sections of the Interim Report:

Highlights

Business Performance

Group Chief Executive Officer's Review

Media Contacts

Mish Tullar
Director of Media Relations
Tel: 020 7449 8239
Mobile: 07423 524154
Email: mish.tullar@royalmail.com     

Candice Macdonald
PR Manager - Corporate
Tel: 020 7449 8261
Mobile: 07436 267324
Email: candice.macdonald@royalmail.com