A sharp fall in the volume of letters posted through Royal Mail has led to a flat quarterly revenue for the company.
The British postal firm saw an improvement in parcels trading on the back of longer opening hours and a drive to win business with retailers.
But the gains were wiped out by the fall in letter volumes which the company said declined by five percent in the quarter with revenue down by four percent.
The future prospects of Royal Mail, which was privatised in 2013 hinge on its ability to cut costs and modernise its operations in order to win more of the parcels market buoyed by a boom in online shopping.
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