Royal Mail said it delivered 308 million fewer letters in the five weeks to May 3, down 33 percent from a year earlier. Parcel deliveries jumped 31 percent but this was not enough to offset the slump in letters.
Total revenue from UK parcels, international and letters tumbled by £22 million ($26.5 million, 24.5 million euros) in the reporting period, Royal Mail added in a statement. Costs jumped £40 million.