Royal Mail Group is uprepared to be taken private even as earnings improve, the Financial Times reported, citing Chief Executive Officer Moya Greene.
The Government-backed mail operator posted an operating profit of 23 million pounds ($36.1 million) and revenue of 7.2 billion pounds in the year ended March 25 in its letters and parcels unit, the FT said.
The unit posted a loss of 120 million pounds in the year before, the FT said. Royal Mail has more to achieve before being “worthy of outside capital,” the FT said, citing Greene.
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