27/11/2013

Royal Mail Sees Profits Rise In Last Six Months

In the first published results since its partial privatisation, Royal Mail has seen a significant rise in its pre-tax profits.

In the six months to September 29 pre-tax profits rose to £233 million, up from £94m the previous year.

Royal Mail also reported that a one-off windfall, from a pension reform, boosted overall pre-tax profits to £1.58bn.

The profit rise announcement follows Business Secretary Vince Cable telling MPs that shares in the business had been sold too cheaply.

(MH/CD)

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