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As profits dive, it’s clear this management isn’t modernising, it’s running the company into the ground – but why? Royal Mail’s profits fell from £180m in 2009 to £39m in 2010, a drop of around 78%. That sounds pretty disastrous, and is one of the reasons given for the impending privatisation of the company. However, when you start to look more closely at the figures you begin to realise that …
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