Royal Mail is to make deeper cost savings across the business, as its half-year results report a 1% rise in group turnover. For the six months ended 25 September, Royal Mail saw group turnover increase from £4.39bn to £4.58bn. Operating profit (before transformation costs) dipped 5% from £342m to £320m, with adjusted pre-tax profit up 5% from £240m to £252m. UKPIL, the group’s domestic letters and parcels division, saw turnover dip 1% to £3.64bn and operating profit (before transformation costs) drop 14.8% from £290m […]
Royal Mail has won a two-year contract to collect and deliver bulk mail for councils across London.
City Link appointed administrators on Christmas Eve, temporarily suspending all operations over Christmas, citing continued “substantial losses over several years” and admitted it would be unable to accept new parcels due to the further losses it would incur.