ROYMF - The Royal Mail Has Made Some Improvements But Not Enough To Justify Its Valuation
In the past several months, the Royal Mail ([[ROYMY]], [[ROYMF]]) has nearly doubled its share price. In the same time, the company's fundamental situation has changed little - despite a few bright spots - which suggest that the company has room for further downside.
Annual Report
The company's revenue of £10.84 billion, was up 2.4% year over year. Earnings per share declined from 17.5 to 16.1 pence per share. Royal Mail took on a significant amount of debt, increasing to £1.687 billion, along with a significantly higher load of lease liabilities. The