[ad_1] 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 loss during the 12…
[ad_1] 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 the previous year. The…
[ad_1] (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 hit performance. Shares in…
[ad_1] 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 sending it by ferry…
[ad_1] 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 Mail blamed strikes by…
[ad_1] 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 once. It is the…
[ad_1] Royal Mail has again called for “major reform” of the USO after posting a £1bn operating loss – reduced to a mere £419m, or £8m a week – on an adjusted basis. Parent company International Distributions Services (IDS) posted its preliminary results for the 52 weeks ending 26 March this morning (18 May)….
[ad_1] In its ‘Consultation on changes to the Postal Schemes 2023’ document, Royal Mail said that as the Isle of Man, like Jersey and Guernsey, is not part of the UK, it was ‘not covered by the domestic requirements under Ofcom’s Designated Universal Service Condition, which include providing a next day delivery service to every…
[ad_1] ID 47484044 © Exopixel | Dreamstime.com Sell-side research house Bernstein today ran the rule over International Distributions Services (IDS), the holding company controlling Royal Mail and logistics arm GLS. Before you get going, the scale of the problem is here below, sourced from IDS’s statement: “Group reported operating loss of £748 million (2021-22: £577…
[ad_1] Group-wide loss of £748mn £539mn hit to carrying value Royal Mail has reported an operating loss of over £1bn, after 12 months of strikes and inflationary pressures. International Distributions Services (IDS) as a whole – which also includes profitable European courier GLS – incurred a loss of £748mn. UK operations are clearly the focus…