Group revenue was up one per cent. GLS performed well, with revenue growth of nine per cent more than offsetting a two per cent reduction in UKPIL revenue.
Adjusted Group operating profit before transformation costs was £712 million and £575 million after transformation costs.
Adjusted Group operating profit margin after transformation costs increased by 10 basis points to 5.9 per cent.
UKPIL parcel volumes grew by three per cent and revenue increased by three per cent.
Addressed letter volumes (excluding the impact of political parties’ election mailings) decreased by six per cent, while total letter revenue was down five per cent.