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		</div><p>Royal Mail said it saw a “resilient” first half despite reporting a drop in earnings as ongoing falls in the numbers of letters being posted offset growth in parcel deliveries.</p>
<p>Moves to slash costs helped limit declines in underlying operating profits, down 2% to £342m over the six months to September 27.</p>
<p>It said new contracts helped drive a 1% rise in parcel revenues.</p>
<p>However, the group was hit by a 3% drop in letter sales and Royal Mail said trading conditions remained “challenging”.</p>
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