Royal Mail PLC Trading Update and Revised Full Year Expectations (8053R)
10 Marzo 2021 - 12:09PM
UK Regulatory
TIDMRMG
RNS Number : 8053R
Royal Mail PLC
10 March 2021
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: RMG
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
10 March 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR
TRADING UPDATE AND REVISED FULL YEAR EXPECTATIONS
Following the third quarter trading update published on 11
February 2021, recent letter volume and revenue trends in Royal
Mail have been more robust than anticipated, with Advertising,
Business and Stamped Mail all performing above our previous
expectations. Growth in parcels in the UK has remained strong but
broadly in line with expectations.
As we near the completion of the Royal Mail management
restructuring programme announced in June 2020, the charge
associated with this is now anticipated to be c. GBP90 million
compared to the original estimate of GBP140 million. We will
deliver the targeted savings of GBP130 million annually, with
around GBP15 million realised in the current financial year
FY2020-21.
GLS performance remains in line with prior expectations.
As a result, if the current trading performance in Royal Mail
continues for the remainder of March, we would expect Royal Mail
revenue for FY2020-21 to be more than GBP900 million higher year on
year.
For the Group, adjusted operating profit for FY2020-21 is now
expected to be around GBP700 million.
Royal Mail plc will issue a pre-close announcement on 30 March
and a business update on GLS will also be provided at that time,
followed by an update on Royal Mail in the UK alongside FY2020-21
results on 20 May.
Enquiries:
Investor Relations
John Crosse
Phone: 07483 390 957
Email: investorrelations@royalmail.com
Royal Mail investor relations line: 020 7449 8183
Media Relations
Jenny Hall
Phone: 07776 993 036
Email: jenny.hall@royalmail.com
Mark Street
Phone: 07515 924 344
Email: mark.street@royalmail.com
Royal Mail press office: press.office@royalmail.com
Company Secretary
Mark Amsden
Phone: 020 7449 8289
Email: cosec@royalmail.com
FORWARD-LOOKING STATEMENTS
This document contains certain forward-looking statements
concerning the Group's business, financial condition, results of
operations and certain Group's plans, objectives, assumptions,
projections, expectations or beliefs with respect to these items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'potential',
'targets', 'goal', 'forecasts' or 'estimates' or similar
expressions or negatives thereof.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the Group's actual
financial condition, performance and results to differ materially
from the plans, goals, objectives and expectations set out in the
forward-looking statements included in this document.
All written or verbal forward-looking statements, made in this
document or made subsequently, which are attributable to the Group
or any persons acting on its behalf are expressly qualified in
their entirety by the factors referred to above. Accordingly,
readers are cautioned not to place undue reliance on
forward-looking statements. No assurance can be given that the
forward-looking statements in this document will be realised;
actual events or results may differ materially as a result of risks
and uncertainties facing the Group. Subject to compliance with
applicable law and regulation, the Group does not intend to update
the forward-looking statements in this document to reflect events
or circumstances after the date of this document, and does not
undertake any obligation to do so.
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END
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March 10, 2021 06:09 ET (11:09 GMT)
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