Ee-commerce could provide a bumper opportunity for the venerable postal giant
It’s a triumph. Instead of losing £1m a day in its core UK business, which was the statistic in June, Royal Mail got the rate down to an average of £700,000 a day across the April to September period. If that doesn’t sound much to cheer, look at the share price: it has roughly doubled in value since the summer.
Part of the explanation for the improvement in the shares lies elsewhere, it should be said. GLS, the international business, is enjoying the e-commerce boom. Its operating profits surged 84% to £166m in the half-year on revenues up a fifth.
