Extra costs blamed for £20m operating loss, as parcels account for 60% of revenue
Royal Mail’s revenue from parcels has overtaken its revenue from letters for the first time as online shopping has surged during Covid-19 restrictions. Parcel deliveries accounted for 60% of the company’s revenue, up from 47% before the pandemic.
The postal service’s revenue grew by 5% year on year in the six months to 27 September, while revenue at the wider group increased by 10%, to £5.7bn, helping the firm register its first growth since privatisation in 2013.
