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 […]
TNT Express has confirmed that the European Commission has temporarily suspended a merger bid with rival postal company UPS. Despite the delay, which will allow the EU regulator to compile more information, TNT Express say that they “would still anticipate a closing in the fourth quarter.” A spokesman for TNT Express tells MT.co.uk: “We have been notified of what is expected to be a temporary delay in the European Commission’s review process. Suspensions are not uncommon, it’s the result of […]
Global Freight Solutions (GFS) has revealed a sharp increase in the number of British-based online retailers seeking advice about delivery standards. The parcels management firm says retailers are now more savvy about how effective deliveries play an essential part in maintaining customer satisfaction and encouraging repeat business. Simon Veale, director at GFS, says: “For some, pressures on their delivery networks in the run-up to the Christmas peak season really brought home the importance of making contingencies to get goods to […]
Ofcom has announced a “fundamental review” into the regulation of Royal Mail, after the withdrawal of Whistl’s final mile delivery service left it without a major competitor in the postal market.