Royal Mail has revealed that fuel costs for its fleet of 37,000 light and heavy commercial vehicles are at a record high, pushing it to introduce a fuel surcharge for the first time. It has applied a 2.5% fuel surcharge to some of its contract parcels services to bring it more in line with competitors, which it said is “considerably lower” than other carriers’ charges. A Royal Mail spokesman told MT: “The price of fuel is a major element of […]
Yodel has said it is on target to turn a profit for the first time since it started trading in 2010, following the departure of its chief executive Neil Lloyd.
Royal Mail has admitted it expects to make a loss in this financial year and won’t return to profit unless the business is overhauled to reflect a decline in letter volumes and a boom in parcel deliveries.
The big event for the MT basket of transport shares – the MT Tracker – is that Royal Mail will be joining this watching brief from tomorrow. The BBC is already reporting this morning that shares will trade at the top of the price range (around 330p) giving it a value of £1.7bn.