Data rules likely to hit mailings next week
Royal Mail has warned that next week’s major shake - up of personal data rules may hit UK mailings as business uncertainty also takes its toll.
The group said it could see a steeper- than- expected drop in letter mailings ahead of the incoming General Data Pro - tec ti on Regulation( GDPR) changes.
It now expects the fall in letter volumes to be at the higher end of its 4 per cent to 6 per cent range, and could be more than 6 per cent at some stag- es over the year ahead, with ongoing business uncertainty adding to pressures.
GDPR rules–designed to give people more control over their personal data – come into effect on 25 May and may lead to a drop in marketing mail, according to Royal Mail.
It said it had been“working closely” with the industry and its customers ahead of the introduction of GDPR, which promises to be the EU’S biggest personal data shake- up since 1995.
“We have also outlined how mail can help our customers thrive in a GDPR world,” Roy- al Mail added. Its cautious comments came as outgoing boss Moya Greene reported a 37 per cent fall in bottom- line pre- tax profits to £ 212 million for the year to 25 March due to a pension charge.
But on an underlying basis, pre- tax profits rose 1 per cent to£565m, while adjusted operating profits lifted 1 per cent to £ 694m.
Revenues were 2 percent higher at £10.2 billion, the results revealed. Greene, who steps down next month, hailed the more than £ 10bn achieved in revenues as a “significant milestone”.