Royal Mail sees shares fall

Why did sales tumble?

Royal Mail struggled this Christmas as the number of letters being posted over the festive period fell.

Shares in the company have dropped by 5 per cent, its letter volumes were down by six per cent in the nine months leading up to 25 December.

Total letter revenue was down 5 per cent compared to 2015.

Due to the company having a better Christmas than last year it did see its parcel sales rise.

Revenues for its UK business fell in the last nine months of 2016, however its international business helped neutralise the decline.

Moya Greene, chief executive of Royal Mail, said: “Our postmen and women delivered a great service at Christmas, even better than last year, with 138 million parcels handled in December alone.”

“Our comprehensive planning, which started much earlier this year, enabled us to deliver this service for our customers right across the UK.”

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