November 15, 2018 / 7:23 AM / 25 days ago

Royal Mail's half-year profit falls 25 percent

Nov 15 (Reuters) - Royal Mail Plc’s first-half profit dropped about 25 percent as the post and parcels company failed to cut enough costs in the UK and margins came under pressure at its fast-growing European business.

Adjusted operating profit before transformation costs fell to 242 million pounds ($314.9 million) in the half year ended Sept. 24, from 323 million pounds a year earlier. ($1 = 0.7685 pounds) (Reporting by Tanishaa Nadkar and Arathy S Nair in Bengaluru; Editing by Gopakumar Warrier)

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