Earnings release
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21 July 2021 Royal Mail plc ( RMG.L ) will hold its 2021 Annual General Meeting ( AGM ) today at 11.00 . In line with the update published yesterday , in the interests of health and wellbeing the Board very strongly requests that shareholders do not attend in person . Royal Mail plc Chair , Keith Williams , Royal Mail Chief Executive Officer , Simon Thompson and GLS Chief Executive Officer , Martin Seidenberg will comment on the performance of the Group in 2020-21 and provide an update on the Group's progress in the first quarter of 2021-22 . The results of voting at the AGM will be announced later today . Trading update for the three months ended June 2021 . Given the unprecedented impact of the COVID - 19 pandemic over this last year , we are providing both one - year and two - year comparisons for the first quarter . The two - year ( pre - COVID ) comparisons may prove helpful in assessing underlying trends and business performance . Keith Williams , Chair , commented : " The first quarter saw a strong revenue performance across the Group , with both Royal Mail and GLS reporting higher revenues than the prior year . " For Royal Mail , as expected , parcel volumes decreased and letter volumes increased compared to the exceptional period last year encompassing the UK's first lockdown , when non - essential retailers closed for the first time . We are starting to see evidence that the domestic parcel market is re - basing to a higher level than pre - pandemic , as consumers continue to shop online . " For GLS , as expected , parcel volume growth continued albeit at a slower rate , due to the exceptionally strong comparators from the same period in 2020-21 . Group AGM TRADING STATEMENT " As pandemic restrictions continue to ease there is still uncertainty about levels of COVID transmission , the impact on consumer behaviour and economic factors such as GDP growth and inflation , all of which will impact on future performance . We continue to expect fluctuations in volumes as we emerge from COVID restrictions , which we will need to manage accordingly . Nonetheless we are encouraged by the revenue performance across Royal Mail and GLS in the first quarter , and notwithstanding the current uncertainty , remain confident about the full year . " • GLS Royal Mail Royal Mail plc ● ● ● Group revenue grew by 12.5 % vs Q1 2020-21 and by 20.2 % compared to Q1 2019-20 ; Prospects for full year performance remain unchanged . Revenue : Increased 12.2 % vs Q1 2020-21 ; Increased 13.4 % vs Q1 2019-20 ; Parcel volumes : Decreased 13 % vs Q1 2020-21 ; Increased 19 % vs Q1 2019-20 ; Parcel revenue : Increased 3.4 % vs Q1 2020-21 ; Increased 36.2 % vs Q1 2019-20 ; Addressed letter volumes ( excluding elections ) : Increased 22 % vs Q1 2020-21 ; Decreased 18 % vs Q1 2019-20 ; Total letter revenue : Increased 25.7 % vs Q1 2020-21 ; Decreased 6.6 % vs Q1 2019-20 . Classified : RMG - Internal Revenue : Increased 12.4 % vs Q1 2020-21 ; Increased 36.6 % vs Q1 2019-20 ; Volume : Increased 10 % vs Q1 2020-21 ; Increased 34 % vs Q1 2019-20 ; Reiterating full year GLS guidance : low single digit % revenue growth and c . 8 % operating margin . 1