Royal Mail

29 January 2019

Key points

Recent trading performance broadlyin line with our expectations

Now expect to deliver adjusted Group operating profit before transformation costs of £500-£530m for 2018-19 (52 week basis)

Group revenue up 2%

UKPILparcel volumes and revenue both up 6%

Addressed letter volumes (excluding election mailings) down 8% and total letter revenue down 6%

GLSrevenueup 13% including acquisitions and up 8%on an underlying basis

Focus on margin protection expected to result in slowingin rate of GLS volume growth next year

Addressed letter volume declines(excluding election mailings)expected to be 7-8% in 2018-19

Addressed letter volume declines (excluding election mailings) likely to be outside forecast medium-term range next year

Cost avoidance programme on target to deliver £100m costs avoided in 2018-19

Otherwise, reconfirming outlook and other guidance for 2018-19 provided in half year results

https://www.royalmailgroup.com/media/10593/royal-mail-9m-2...