Royal Mail targets higher cost savings
Royal Mail has increased its target for cost savings as it reported a small rise in half-year revenues.
The company is now seeking to cost cuts by £600m a year, up from a previous target of £500m.
Royal Mail reported a 1% rise in revenue to £4.6bn for the half year to 25 September.
The trend of fewer letters being sent through the post continued, with total letter revenues falling by 3%, although parcel revenues grew by 3%.
"We delivered UK parcel volume and revenue growth including new contract wins," said Moya Greene, Royal Mail's chief executive.
Operating profit before... read more
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