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 […]
Royal Mail sees “strong growth” in parcels business as costs rise and letter volumes continue to fall
The cost of strike action and a faster than predicted fall in letter volumes could see Royal Mail make a loss next year, despite a “strong” half-year performance from its parcels business.
Royal Mail CEO Moya Greene is rumoured to be preparing to step down, with the head of the business’s GLS division tipped to fill her shoes.
UK Mail Group’s depot closure programme will cost it approximately £2m as it looks to continue to cut costs. In a pre-close trading update for the year ended 31 March, UK Mail says the closure of four depots in the past 12 months will leave it with a low-cost and integrated network. It is left with a network of 50 depots as a result. The parcels giant also reveals a Q4 revenue increase of 14% year-on-year. However, when adjusting for […]