Royal Mail has announced adjusted operating profits of £403m in the year to 31 March, an increase on profits of £152m (release).
Analysts expected the state-owned delivery business to report an operating profit of between £300m and £400m , with sales boosted by increased consumer spending on online shopping.
Chief executive Moya Greene:
We are well positioned to continue to benefit from the structural change to e-retailing.
In the early weeks of 2013-14, we have seen similar trends to those seen in 2012-13.