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 […]
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.
Royal Mail offset declining letter volume with its growing parcels operation in a year that saw it surpass the £10bn turnover mark for the first time, but saw pre-tax profit fall by more than a third (37%).