Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News  >  Business Leaders  >  All news

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 
HomeAll newsMost read newsBusiness Leaders Biography 
Birthday : 08/30/1930
Place of birth : Omaha (Omaha) - USA
Biography : Mr. Warren E. Buffett is Chairman & Chief Executive Officer at Berkshire Hathaway Assurance Corp., C
The feature you requested does not exist. However, we suggest the following feature:

Royal Mail : Fewer Letters Flattens Royal Mail Revenue In First Nine Months

share with twitter share with LinkedIn share with facebook
share via e-mail
01/19/2017 | 09:53am CET

LONDON (Alliance News) - The decline in letter volumes that Royal Mail PLC has been battling in recent years worsened in the third quarter of its financial year, leaving the postal group's revenue flat and sending its shares lower in early trade on Thursday.

Royal Mail shares were down 4.3% to 430.00 pence, the worst performer in the FTSE 100.

Letter volumes have been in consistent decline due to the growth of electronic communications, which has trimmed the need for businesses to send physical letters to customers or target them through direct marketing campaigns.

Royal Mail has noted in the past that letter volumes are closely linked to gross domestic product movements and, on Thursday, said the uncertainty caused by the UK's vote to leave the European Union in June was contributing to a slowdown on advertising and business letter volumes.

The postal service operator said group revenue for the nine months to December 25 was flat, with a 2.0% decline in its UK parcels and letter delivery arm offset by 9.0% revenue growth at GLS, its international logistics business.

Addressed letter volumes fell 6.0% year-on-year in the nine month period, with revenue falling 5.0%, damaged by pricing pressures and trends in its customers "downtrading".

Royal Mail said the year prior had benefited from a one-off rise in direct delivery volumes and the third quarter in the previous financial year was "unusually strong".

Parcels revenue for the nine months rose 3.0% year-on-year and volumes increased 2.0%, largely driven by account customers and by good growth in consumer channels. The growth of online shopping has helped significantly to offset declining letter volumes for Royal Mail, though the parcel delivery market is a very competitive one in the UK.

Parcelforce Worldwide volumes, however, declined amid an increasingly competitive express parcels market, while international parcels volumes growth slowed, albeit this was offset by better average revenue per parcel.

GLS revenue rose 9.0% and volumes were up 8.0%, Royal Mail said, with growth in all key markets, and the group's recent acquisitions in Spain and California traded in line.

Royal Mail maintained its guidance for the full year to March 26 and will publish annual results on May 18.

It said its cost-cutting programme remains on track to deliver around GBP225.0 million in annual cost reductions in the UK business for the current financial year.

It added the outlook for parcel and letter trends remains the same.

Copyright 2017 Alliance News Limited. All Rights Reserved., source Alliance News

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news about Warren Buffett 
01/18 WARREN BUFFETT : Gates charity to sell 60 million Berkshire shares, as Buffett urged
01/17 WARREN BUFFETT : Buffett's Berkshire Hathaway wins reinsurance licence in Malaysia
01/11DJWARREN BUFFETT : 'I'm Getting Down to Salvage Value'
2016DJWARREN BUFFETT : Dow Chemical to Redeem Cash-Draining Preferred Stock Held by Buffett
2016DJWARREN BUFFETT : Howard Buffett Won't Seek Re-Election to Coca-Cola's Board
2016 WARREN BUFFETT : analyst
2016DJWARREN BUFFETT : Warren Buffett, a Vocal Critic of Donald Trump, Is a Big Winner in Election Rally -- Update
2016DJWARREN BUFFETT : Warren Buffett, a Vocal Critic of Donald Trump, Is a Big Winner in Election Rally
2016 WARREN BUFFETT : Buffett's Berkshire is urged to sell fossil fuel stocks
2016 WARREN BUFFETT : Warren Buffett's Berkshire makes surprise U.S. airline bet
2016DJWARREN BUFFETT : Buffett's Berkshire Invests in Airlines
2016DJWARREN BUFFETT : Finance Watch -- WSJ
2016 WARREN BUFFETT : After Trump win, critic Buffett sees strong stocks, trade hurdles
2016 WARREN BUFFETT : Wells Fargo shareholders await word from Buffett as November nears
2016 WARREN BUFFETT : Mars Inc buying out Buffett stake in Wrigley
1  2  3  4  5  6  7  8  9  10Next

Most Read News 
01/12DJJACK MA : Amazon Touts Plan to Create More Than 100,000 Full-Time Jobs in U.S.
01/12 RATAN TATA : India's Tata Sons names insider Chandrasekaran as new chairman
01/13DJSHELDON ADELSON : Wall Street Journal Settles Libel Lawsuit Brought by Casino Magnate Sheldon Adelson
01/13 DAVID HENRY : JPMorgan profit climbs 24 percent, beating forecasts, on trading surge
01/16 DAVID HENRY : JPMorgan looks for big payoff from lead in deposit race
01/18 DAVID HENRY : Citigroup CEO asks for investor patience on financial targets
01/12DJLOUIS BACON : What Hedge Funds Are Betting on This Year
More news

Popular Business Leaders 
Paul Achleitner William Ackman Alain Afflelou Frank Appel Vincent Bolloré Warren Buffett Safra Catz Jean-paul Clozel Gary Cohn Tim Cook Leonardo Del Vecchio Jamie Dimon Thorsten Dirks Patrick Drahi Klaus Engel Bill Gates Carlos Ghosn David Henry Jean-françois Hénin Carl Icahn Anshu Jain Jérôme Kerviel David Koch Isabelle Kocher Jack Ma John Mackey James Murdoch Elon Musk Peter Nicholas Xavier Niel Ferdinand Piëch Patrick Pouyanné Sumner Redstone Alexandre Ricard Kasper Rorsted Wilbur Ross Charles Schwab Carlos Slim Rupert Stadler Randall Stephenson Bernard Tapie Ratan Tata Tidjane Thiam Peter Thiel François Villeroy De Galhau Thomas Wilson Martin Winterkorn Dieter Zetsche Mark Zuckerberg
A-Z Business Leaders