Royal Mail has doubled its operating profit to £177 million in the last six months, bosses have announced.

The postal group said profits went up in the first half of the 2008/09 financial year despite the number of letters being delivered falling.

The average daily postbag is down to 79 million items, five million fewer than two years ago.

Most mail deliveries are now hitting or exceeding targets, while the company said it was continuing to cut overheads by reducing computer and other costs.

Royal Mail chairman Allan Leighton said: "These are good results that demonstrate that real progress has been made in what are clearly difficult economic circumstances.

"Everyone at Royal Mail understands the importance of the one-price-goes-anywhere universal service and these results demonstrate our determination to protect and strengthen it."

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