Newly-privatised Royal Mail has announced a 12 percent rise in full-year profit, but says its business is facing tough headwinds from increasing competition. Bosses are warning that the public service it offers is not sustainable without change.
Parcel revenues have helped boost Royal Mail profits, the delivery service has announced today.
Parcel revenues increased by 7% but in volume terms the one billion items delivered in the period was flat compared with the previous financial year.
Addressed letter volumes declined by 4% but the trend improved over the year due to stronger economic conditions and one-off impacts such as energy companies writing to customers about price rises.
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.