Sales are up and losses have been significantly reduced at Royal Mail – but an expected £120m increase in costs due to the upcoming National Insurance hike has resulted in a £134m impairment charge at the business. Royal Mail parent group International Distribution Services (IDS) announced its interim results this …
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Royal Mail has announced plans to increase its prices after incurring a significant financial hit due to a tax change in the UK Budget. The postal service company is dealing with a £120 million impact from the tax raid introduced by Rachel Reeves. This measure notably includes a rise in …
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Royal Mail has warned that its heavily lossmaking business will be hit by a further £120 million of costs from the budget increase in employer national insurance contributions. With retailers and the hospitality trade already issuing grave warnings on the impact of the rise in tax on companies, Royal Mail …
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The group behind Royal Mail has warned it cannot rule out job cuts or price hikes in the face of a £120 million hit from the autumn Budget national insurance changes. Martin Seidenberg, chief executive of parent firm International Distribution Services (IDS), said measures from Rachel Reeves’ maiden Budget last …
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Reuters Royal Mail owner IDS warns of cost pressures after return to profit (Reuters) -The parent firm of Britain’s Royal Mail warned of a worsening cost environment following last month’s budget and said it could not rule out price hikes and higher automation as it looks to cut costs after …
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Royal Mail’s parent firm has blamed the budget for a failure to return to profitability, warning it cannot rule out price hikes and job cuts in response. International Distribution Services (IDS) said it had set aside £134m in the first half of its financial year, with £120m directly linked to …
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Royal Mail’s parent firm has blamed the budget for a failure to return to profitability, warning it cannot rule out price hikes and job cuts in response. International Distribution Services (IDS) said it had set aside £134m in the first half of its financial year, with £120m directly linked to …
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THE owner of Royal Mail has warned that it will have to increase prices even further after a £120 million hit from the Budget. The boss of the postal service told reporters this morning that he could not rule out hiking stamp prices even higher as it faced the enormous …
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By GREG HEFFER, POLITICAL CORRESPONDENT FOR MAILONLINE Published: 06:50 EST, 21 November 2024 | Updated: 06:51 EST, 21 November 2024 The owner of Royal Mail has failed to rule out job cuts, price hikes or service changes after Chancellor Rachel Reeves used her Budget to hike national insurance. Martin Seidenberg, …
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First-class stamps have become so expensive that it may be cheaper to fly to Europe to post your Christmas cards, according to a shocking recent analysis. The decision by Royal Mail to hike the price to £1.65 means that sending a letter from certain foreign countries is now half the …
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