Royal Mail shares fall sharply on concerns over competition

Shares in Royal Mail have fallen by more than 8% after the firm warned that rivals – including Amazon – were eating into its parcel delivery business.

Royal Mail said the rise of delivery firm Whistl could wipe £200m off sales.

It also said competition was endangering its government-mandated Universal Service, which guarantees a single price postal service that delivers to all UK addresses.

The caution came as Royal Mail reported a small fall in pre-tax profits.

Read more: BBC News – Royal Mail shares fall sharply on concerns over competition.