Royal Mail: H1 sales up, but earnings down
(CercleFinance.com) - Royal Mail has reported H1 sales of 5.
67 billion pounds, up 9.8% y-o-y.
Its pre-tax loss reached 20 million pounds, compared with a profit of 61 million pounds in H1 2019.
EPS was 1.4p, less than 10% its level a year ago (15.3p), or 0.4p on an adjusted basis, although this beat the consensus.
"It remains difficult to give precise guidance but parcel growth is expected to remain robust in Q3, with more uncertainty over trends in Q4 due to the development of the COVID-19 pandemic, further recessionary impacts and trends in international volumes," said Keith Williams, interim executive chair.
The market liked the news, with the share up about 6% at lunchtime on Thursday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
67 billion pounds, up 9.8% y-o-y.
Its pre-tax loss reached 20 million pounds, compared with a profit of 61 million pounds in H1 2019.
EPS was 1.4p, less than 10% its level a year ago (15.3p), or 0.4p on an adjusted basis, although this beat the consensus.
"It remains difficult to give precise guidance but parcel growth is expected to remain robust in Q3, with more uncertainty over trends in Q4 due to the development of the COVID-19 pandemic, further recessionary impacts and trends in international volumes," said Keith Williams, interim executive chair.
The market liked the news, with the share up about 6% at lunchtime on Thursday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.