[ad_1] Image source: Getty Images Nearly 10 years ago, the bulk of Royal Mail was privatised, with the process being completed two years later, in October 2015. But the odds are good that if you bought into the privatisation process, you did so during that first sale, in October 2013. Royal Mail Group — as…
[ad_1] ROYAL MAIL has swung to a £1billion loss and said it will take two more years to make a headline profit as it wrestles with modernising its postal service. The business, clunkily rebranded to International Distributions Services, said it was dragged down by a £539million writedown of its value, and 18 days of strikes…
[ad_1] Thursday, May 18th, 2023 11:48am Royal Mail is looking at changing the way mail is delivered to the Isle of Man. That’s according to a consultation document which outlines a number of proposed changes to services. Isle of Man Post Office is working with the mail carrier to explore the implications of bringing mail…
[ad_1] In today’s top stories, International Distributions Services has blamed striking workers for Royal Mail’s £1bn loss. Elsewhere, Japanese PM Fumio Kishida met with semiconductor industry leaders to discuss his commitment to making the country a hub for chip manufacturing, while BT Group is to cut as many as 55,000 jobs by the end of…
[ad_1] REFRESH PAGE FOR UPDATES Royal Mail Royal Mail swung to a £419 million adjusted operating loss after a brutal battle with unions over pay and conditions. The loss compared with a profit of £416m last time. Parent company International Distributions Services reported a group adjusted operating loss of 71 million pounds for the year…
[ad_1] Royal Mail has blamed strike action for helping send it slumping to a full-year loss of more than £1 billion. The group’s owner, International Distributions Services, revealed Royal Mail swung to an operating loss of £1.04 billion for the year to March 26, against earnings of £250 million the previous year. On an underlying…
[ad_1] “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 a comfortable outcome, the…
[ad_1] 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 CAPITAL IS AT RISK….
[ad_1] 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 Subscribe to…
[ad_1] 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 CWU over its ongoing…