Analysts have reacted cautiously to Royal Mail’s year end results, which saw the group’s turnover grow 2% year-on-year but annual profit fall by more than a third (37%). Brokerage Jefferies said the group was underperforming and estimated operating expenses would remain stable at best despite a cost drive. It added that much of the business’s future cost avoidance target of £230m rested on the success of a trial of a reduced working week agreed in the new pay and pensions […]
Royal Mail is planning a nationwide roll out of its ‘Delivery to Neighbour’ service in late September, to bring its final mile service more in line with competitors. Currently the only major delivery company not offering the service, it is awaiting regulatory approval from Ofcom, which will allow Royal Mail to deliver large parcels and items that require a signature to neighbours when customers are out. Mike Newnham, Royal Mail’s chief customer officer, says: “The results of the trial showed […]
A trailblazer apprenticeship standard for managers in the parcel courier sector has been submitted to BIS by the Institute of Couriers (Ioc) in light of the e-retail boom and upcoming apprenticeship levy.
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.