[ad_1] reuters_tickers This content was published on May 25, 2024 – 00:53 (Reuters) – Britain’s communications regulator Ofcom is investigating International Distribution Services-owned Royal Mail over its failure to meet its delivery targets for the financial year 2023-24, the regulator said on Friday. Under Ofcom’s rules, Royal Mail is required to meet performance targets across…
[ad_1] UK regulator to probe Royal Mail’s delivery targets miss May 24 (Reuters) –Britain’s communications regulator Ofcom is investigating International Distribution Services IDSI.L-owned Royal Mail over its failure to meet its delivery targets for the financial year 2023-24, the regulator said on Friday. Under Ofcom’s rules, Royal Mail is required to meet performance targets across…
[ad_1] Royal Mail’s owner filed its accounts late Communications watchdog Ofcom launched an investigation into the Royal Mail’s failure to meet its delivery targets after the company’s owner published its delayed annual results. International Distributions Services filed its annual figures after the stock market had closed. They had been due at 7am on Thursday but…
[ad_1] By Alex Brummer for the Daily Mail Updated: 16:50 EDT, 24 May 2024 The wheels of commerce spin ever faster with a rush of FTSE 350 takeover bids. But the General Election campaign will usher in a period of regulatory purdah. The effort by Czech billionaire Daniel Kretinsky to swallow International Distributions Services (IDS),…
[ad_1] Key moments from Paula Vennells’ three days of questioning at Post Office inquiry Former Post Office chief executive Paula Vennells has broken her almost decade-long silence on the Horizon IT scandal. She was quizzed over the course of three days on how things unfolded during her time at the head of the organisation by…
[ad_1] IDS overview: Revenue £12,679 million, up £635 million year-on-year, driven by GLS and strong H2 in Royal Mail. Reported operating profit of £26 million (2022-23: loss of £742 million); adjusted operating loss1 reduced to £28 million (2022-23: loss of £71 million). Adjusted operating profit1 in GLS of £320 million and adjusted loss of £348 million in…
[ad_1] The owner of Royal Mail filed its delayed annual results on Friday night after the stock market had closed and as the regulator launched an investigation into its failure to meet its postal delivery targets. International Distributions Services, which had been due to file its full-year results at 7am on Thursday, reported that Royal…
[ad_1] Royal Mail’s owner has warned that a potential £3.5bn bid by the Czech billionaire Daniel Křetínský could put the company’s financial future and operations at risk. It came as the industry regulator Ofcom announced it had opened an investigation into the parent group, International Distributions Services (IDS), for failing to meet its annual delivery…
[ad_1] Ofcom has today opened an investigation into Royal Mail’s failure to meet its delivery targets for 2023/24, following the company’s publication of its results this afternoon. Under our rules, Royal Mail is required to meet specific performance targets across the whole financial year, excluding the Christmas period. Among other targets, Royal Mail must: deliver 93% of first…
[ad_1] Martin Seidenberg, chief executive of parent company IDS, said: “In the last six months we have set Royal Mail on the right trajectory. We made good progress delivering our modernisation agenda and returned to growth in the second half. “We have improved quality, won back customers lost during industrial action, controlled costs and delivered…