Royal Mail has been fined £50m by Ofcom for a “serious” breach of competition law, in which it abused its dominant market position and deliberately targeted final mile delivery competitor Whistl. Whistl, then TNT Post, was trialling final mile operations in London and Manchester when Royal Mail announced a hike in its wholesale prices in January 2014. Its universal service meant Whistl had no choice but to use Royal Mail for final mile deliveries of mail everywhere it wasn’t able […]
Whistl saw a leap in pre-tax profit in its first full-year results since the MBO that saw it separated from its PostNL origins.
Royal Mail Group has turned a loss into a profit in its UK letters and parcels arm as it revealed details behind its strategy to develop into a more parcels-focused business ahead of its planned privatisation. The Group’s first half profit for the six months ending 23 September leapt to £99m, from a loss of £41m in the same period a year ago. This came mainly as a result of a 5.6% rise in parcel volumes which now accounts for […]