Royal Mail Posts a Rise in Profits

Following the controversial flotation in October 2013, full year profits rose 12% to £671m.

Revenue from the letters business was overtaken by the parcels business for the first time. The boom in the parcels business is on the back of online shopping. However, CEO Moya Greene, admits there is stiff competition in this growing market.

Royal Mail also plans to trial a Sunday parcel delivery service in response to the increasing demand for online shopping goods being ordered.