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 […]
The Communication Workers Union (CWU) has warned that strike action at Royal Mail and Parcelforce is possible from 10 October if union members vote in favour of it later this month. Ashleigh Wight
The government is to sell its remaining stake in Royal Mail, completing the company’s journey from public-to-private road transport heavyweight.