Royal Mail set for loss despite parcels booming in Covid crisis

Surge in online shopping accelerates shift away from letters and creates extra costs

Royal Mail has reported a big boost to parcels during the Covid-19 pandemic, but has also run up extra costs of £160m, and said outdated working practices needed to change to return the company to profitability.

A surge in online shopping has led to strong growth in parcel volumes for Royal Mail, while the long-term decline in letters continues, resulting in a “substantial shift” in its business in the past five months.

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