January 22, 2015 / 7:17 AM / 3 years ago

Royal Mail posts slowdown in nine-month revenue

LONDON, Jan 22 (Reuters) - Britain’s Royal Mail said group revenue for the nine months to Dec. 28 rose 1 percent, marking a slowdown from the half year as competition within the parcel market crimped sales.

UK parcels revenue, worth half of group sales, were flat over the period, improving from a first half decline of 1 percent, with the number of items delivered rising 3 percent, the postal firm said on Thursday.

Letters volumes fell 3 percent, as expected, with revenue flat compared to a 1 percent rise at the half year. The firm’s European parcels division posted revenue growth of 8 percent, Royal Mail said, adding it expected to meet its full-year profit expectations.

Group revenue growth at the half year had been 2 percent. (Reporting by Neil Maidment; editing by Kate Holton)

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