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Royal Mail looks for salvation via cost-cutting

The postal service group was already struggling with high operating costs pre-pandemic
Royal Mail looks for salvation via cost-cutting

Royal Mail (RMG) produced £325m of adjusted operating profit in the year to 29 March, in the middle of its guided range, but this figure was 14 per cent lower than a year earlier amid higher distribution, conveyance and people costs in the ‘UK parcels, international and letters’ (UKPIL) business. As a result, the group margin contract to 3 per cent, from 3.6 per cent the prior year.

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