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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Royal Mail reports slip in H1 profit

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LONDON: Britain’s Royal Mail reported £250 million ($328.7 million) in half-year adjusted profit before tax, down slightly, while revenue edged up 2 per cent helped by its European parcels business.


Profit for the 26 weeks to September 24 fell from £252 million a year earlier, the postal and parcel delivery company said.


Revenue rose to £4.83 billion from 4.58 billion.


The company said it is on track for cost savings of around £190 million in its UK letters business. — Reuters


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