“We have grounds for optimism,” said Keith Williams, chair of Royal Mail’s parent company, adopting a tone that hasn’t been heard from the boardroom in a while. What’s more, you can see what he means. While a full-year “adjusted” operating loss of £419m at Royal Mail is nobody’s idea of …
Read More »Royal Mail (IDS) Shares Fall on £1Bn FY23 Loss as CEO Leaves
The Royal Mail share price, whose parent company is International Distributions Services PLC (LON: IDS), fell after reporting a massive £1 billion loss. The news comes just five days after announcing that its CEO Simon Thompson, who came under fire for misleading MPs, would leave the firm in October. YOUR …
Read More »CAT permits DAF to appeal against pass-on assessment in Royal Mail/BT decision
The UK’s Competition Appeal Tribunal has allowed DAF to challenge aspects of its decision awarding £17.5 million in damages to BT and Royal Mail, three months after the company failed to fend off what became the country’s first successful follow-on claim against a member of the EU Trucks cartel. To …
Read More »where does its financial catastrophe leave the CWU?
Support us and go ad-free As predicted, beleaguered Royal Mail made huge losses during the last financial year. It’s hardly a surprise, given what the Communication Workers Union (CWU) previously called bosses’ “gross mismanagement” of the company. However, Royal Mail’s financial catastrophe throws into question the deal it offered the …
Read More »Royal Mail owner swings to £1bn loss as demand falls and wage costs rise
Royal Mail has swung to a £1bn loss and does not expect to turn a profit until 2025, as it races to recover from a dispute with postal workers that contributed to deteriorating delivery standards. A £539mn impairment charge on the value of Royal Mail led to its £1bn operating …
Read More »Royal Mail suffers £1bn annual loss after year of strikes
The postal service is being investigated for failing to meet its delivery targets over the past year The group’s owner International Distribution Services (IDS) blamed the downturn on industrial action, which led to an operating loss of £1.04 billion for the year to 26 March, against earnings of £250 million …
Read More »Royal Mail Plunges to £1 Billion Loss After Fight With Union
(Bloomberg) — Royal Mail reported an operating loss of £1 billion ($1.25 billion) after the beleaguered delivery service endured a long dispute with a trade union. International Distributions Services Plc, which owns the UK postal service, said industrial action, a weak online retail market and severance costs from redundancies had …
Read More »Post Office working with Royal Mail over future of mail plane
Carrier considering scrapping flights for ferry The Isle of Man Post Office is working with Royal Mail to review the implications of removing the dedicated aircraft that brings letters and parcels to the Island. The mail carrier announced it’s considering scrapping daily delivery flights to Jersey and the Island, and …
Read More »Royal Mail parent blames $1.3 billion loss on strikes, lagging productivity
Reporting a $1.3 billion loss for 2022-2023 on Thursday, International Distributions Services said the poor performance was due to industrial action by postal workers in its Royal Mail division and a failure to boost productivity. File photo by Andy Rain/EPA-EFE May 18 (UPI) — The parent company of Britain’s Royal …
Read More »Royal Mail confirms it will get more posties to deliver in Nuneaton amid more delays
Royal Mail has confirmed it will get more posties to deliver across Nuneaton amid reports of more delays. One resident contacted CoventryLive to say her dad, who lives in the St Nicolas Park area of town, had no mail delivered for three weeks – then it all turned up at …
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