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Share Name Share Symbol Market Type Share ISIN Share Description
Royal Mail Plc LSE:RMG London Ordinary Share GB00BDVZYZ77 Royal Mail Plc
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  8.10 1.94% 425.10 427.10 427.30 428.20 417.00 418.10 2,563,983 16:35:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 12,638.0 726.0 62.0 6.9 4,251

Royal Mail PLC Trading Update and Revised Full Year Expectations

10/03/2021 11:09am

UK Regulatory (RNS & others)


Royal Mail (LSE:RMG)
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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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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March 10, 2021 06:09 ET (11:09 GMT)

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