January 29, 2019 / 7:17 AM / 9 months ago

Royal Mail narrows FY profit view, sees further letter volume decline

Jan 29 (Reuters) - Royal Mail Plc on Tuesday narrowed its full-year profit forecast, and guided to a larger-than-expected decline in addressed letter volume for the year.

The former British postal monopoly said it expects adjusted operating profit before transformation costs to range between 500 million pounds ($657.2 million) and 530 million pounds for 2018-19, below its previous forecast of 500 million pounds to 550 million pounds.

It had posted adjusted operating profit before costs of 694 million pounds a year earlier. ($1 = 0.7608 pounds) (Reporting by Shashwat Awasthi and Arathy S Nair in Bengaluru Editing by Saumyadeb Chakrabarty)

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