By Jonathan Davies
Royal Mail's revenues fell flat in the second quarter as the number of letters being sent continued to fall.
Revenue fell 4% with letter volumes down 5%. Parcel volumes in the UK were up 3%, however, and up 9% in Europe. Parcel revenues rose by 2% and 8%, respectively.
The latest figures come as the government prepares to sell its remaining 15% stake.
With letter volumes falling, Royal Mail said it is focused on reducing costs. Chief executive Moya Greene said the market was "challenging", but stress the delivery firm was "stepping up the pace of change to drive growth, efficiency and innovation while maintaining a tight focus on costs".