Royal Mail UK parcel volumes fall, outlook uncertain as COVID-19 curbs ease

FILE PHOTO: The logo of Royal Mail is
seen outside the Mount Pleasant
Sorting Office as a delivery vehicle arrives, in London

(Reuters) -Royal Mail Plc said Britons are having fewer parcels delivered to their homes as pandemic curbs are lifted and it withheld from offering an annual outlook for its UK business due to COVID-19 uncertainties, sending shares down 2% to two-month lows.

It also warned on Wednesday that revenue growth at its more profitable international division would taper off this year, even as it reported a 12.5% rise in group revenue in the first quarter.

The company said parcel volumes in its UK business fell 13% in the three months ended June 30 from a year ago, with international shipments coming into Britain affected by Brexit, reduced air freight capacity and higher transport costs.

By Yadarisa Shabong.

Full story at Yahoo News.