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BREAKING NEWS

Royal Mail profits up

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Royal Mail profits up

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Britain’s Royal Mail has reported pre-tax profits up 60 percent to the equivalent of 381 million euros.

Much of the increase came from a price increase for first class stamps.

Meanwhile a company has been appointed to set up the employee share scheme, bringing an initial public offering of shares a step closer.

The universal service obligation, to deliver to all addresses in Britain for the same price, is unaffected by the sell off.