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Online Retail Driving UK Retail Market's Growth, Royal Mail Says

November 19, 2014: 12:00 AM EST
Online retail, which currently accounts for 10 percent of total retail sales and is forecast to rise to 13 percent by 2017, is driving growth in the parcel delivery market in the UK, according to the Royal Mail. For its part, the delivery company reported revenue rose 2 percent to ₤4.5 billion in the six-month period ending September 28, 2014, compared with the same period in the previous year. Pre-tax profits fell from ₤233 million to ₤218 million before one-time costs, with after-cost profits dropping from ₤1.58 billion to ₤167 million. Royal Mail, however, warned that leading online retailer Amazon's plan to develop its own delivery service would likely limit its ability to grow further.
Chloe Rigby, "Ecommerce driving parcel growth, says Royal Mail, as it warns Amazon’s move towards self-delivery set to brake that growth", Internet Retailing, November 19, 2014, © SJP Business Media
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