Royal Mail fined £10.5m for missing delivery targets

Ofcom found that in the year to the end of March Royal Mail delivered only 74.7% of first-class mail on time, and 92.7% of second-class mail within the regulatory time period. Photograph: John Giles/PA

Royal Mail has been fined more than £10m by the postal regulator for missing its delivery targets, with more than a quarter of first-class mail arriving late.

Ofcom, which fined the company £5.6m for the same failure of its regulatory obligations last November, said Royal Mail took “insufficient and ineffective steps” to improve its performance this year.