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 […]
Royal Mail is to make deeper cost savings across the business, as its half-year results report a 1% rise in group turnover.
Royal Mail will begin its listing on the London Stock Exchange on 11 October, with the price per share set between 260p and 330p.
The government is to sell its remaining stake in Royal Mail, completing the company’s journey from public-to-private road transport heavyweight.