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 expressed its disappointment today after members of the Communication Workers Union (CWU) unanimously voted in favour of holding a national strike ballot this year.
Royal Mail has received approval to revamp its final mile delivery service, and will roll out its Delivery to Neighbour initiative next week. It has received regulatory approval from Ofcom to launch the programme on Monday 1 October, allowing the firm to deliver large items or items that require a signature to a neighbouring address if no one is home to receive them. Until now it was the only major delivery company in the UK who did not offer the […]