Royal Mail has announced an increase in revenue by two percent for the three months ending June 24.
The group reported a decline in letter revenue by seven percent but a jump in parcel volume by the same amount.
“Overall, our trading performance in the first three months of the financial year was in line with our expectations,” said Royal Mail.
“Our outlook and other guidance are also unchanged from that set out in our financial report for the full year ended 25 March 2018,” the group added.
This Thursday is Royal Mail’s annual general meeting (AGM). Shareholder advisory firms have recommended to investors that they vote against the firm’s remuneration plans.
The group’s results were in line with expectations and have forecasted for letter revenues to decline six percent annually.
Shares (LON: RMG) rose nearly three percent in early trading. Shares are currently up 2.39 percent at 492.30 (1430GMT).