Royal Mail to launch UK’s first ever parcel postbox network
The Royal Mail plans to introduce 1,400 parcel postboxes across the UK in the biggest shake up in the company for more than 160 years.
The announcement, which came with the company’s full year results today, promises the majority of the new parcel-boxes - which will enable customers to post parcels in the same way they post letters - will be in place by the end of 2019-20.
Royal Mail said it also has major new customer and e-retailer initiatives coming on stream: “We will also for the first time begin collecting returns from consumers at their home, and offering more in-flight redirections for individual parcels. Further initiatives will follow.”
"The launch of parcel postboxes is also one of the biggest innovations in parcels since the launch of Parcel Post in 1883," it added.
Rico Back, the Royal Mail’s group CEO said the company’s turnaround effort would be challenging.
“Our turnaround plan is challenging, stretching and ambitious. We have changed before - many times in fact - during our 500-year history.
“Our ambition is to build a parcels-led, more balanced, more diversified international business.
“At the heart of our strategy is a 'turnaround and grow' plan for our UK business. Alongside our focus on the UK, we will 'scale up and grow' GLS (General Logistics Systems) and enhance our cross-border proposition.”
Adjusted full year revenue for the firm rose two percent to £10.58 billion.
Royal Mail’s share price jumped 6.9 per cent to £2.26 on the London Stock Exchange.