Royal Mail: sold off after results publication

(CercleFinance.com) - Royal Mail shares have plunged over 14% in London today - the UK's incumbent postal operator reported FY 2021-22 adjusted operating profit that was up 8% at 758 million pounds, although this was overshadowed by a lacklustre outlook for 2022-23.


Assuming a pay deal broadly in line with the current offering, and in the absence of significant sector disruption, it judges the current consensus of 303 million pounds to be within the range of potential results, with risk tilted to the downside.

Over the past year, the British group's revenues were pretty flat (+0.6%) at just over 12.7 billion pounds, with 4.4% growth in its GLS division offset by a 1.6% decline in the traditional Royal Mail business.


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