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. Presenting Royal Mail’s half-yearly results to 29 September 2019, group chief executive Rico Back revealed a 5.1% increase in the group’s revenues to £5.1bn. Pre-tax profits climbed to £173m, compared with £33m in the same period last year. The group’s UK parcels, international and letters division (UKPIL) saw […]
Ofcom has provisionally found that Royal Mail breached competition law with the price increases competitor Whistl complained to the regulator about last year.
Royal Mail’s profit warning has been met with shock by analysts who have warned that the group faces relegation from the FTSE 100 if it cannot tackle its productivity problem.
Royal Mail is considering applying a fuel surcharge to some of its contract parcels and mail services, while rival carrier UK Mail has reduced parcel prices for SMEs.