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Royal Mail reports slip in H1 profit, Europe helps revenue
November 16, 2017 / 7:46 AM / a month ago

Royal Mail reports slip in H1 profit, Europe helps revenue

Nov 16 (Reuters) - Britain’s Royal Mail reported 250 million pounds ($328.7 million) in half-year adjusted profit before tax, down slightly, while revenue edged up 2 percent helped by its European parcels business.

Profit for the 26 weeks to Sept. 24 fell from 252 million pounds a year earlier, the postal and parcel delivery company said.

Revenue rose to 4.83 billion pounds from 4.58 billion.

The company said it is on track for cost savings of around 190 million pounds in its UK letters business.

$1 = 0.7607 pounds Reporting by Arathy S Nair and Samantha Kareen Nair in Bengaluru; editing by Jason Neely

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