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 …
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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 …
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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 …
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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 …
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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 …
Read More »“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 …
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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 …
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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 …
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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 …
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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 …
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