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Royal Mail has posted half-year operating profits of £144 million on revenues of £4.35 billion, an increase of 3.3% over last year. The Communication Workers Union is heralding the results as proof that modernisation efforts can be successfully undertaken within the public sector.



Dave Ward, CWU Deputy General Secretary said, "There is no need for privatisation as a solution to business transformation. Change is being successfully delivered by postal workers daily throughout the company. Postal workers are Royal Mail's greatest asset and should be recognised as such."



Despite the solid results, CWU warns that work remains to be done shore up Royal Mail for the years ahead. The union is continuing with its campaign against privatisation and has called again for the regulator to move to protect universal service. Ward said, “There's a bright future for the mail industry as Royal Mail's results and the growth in packets and parcels show, but it will only work if the universal service and postal workers are put at the heart of change. Ofcom's decisions have the potential to make or break this industry.”