Royal Mail trading performance broadly in line with expectations

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Royal Mail plc (LON: RMG) today issued a trading update covering the nine months ended 29 December 2019. Rico Back, Group Chief Executive Officer, Royal Mail, said: “We had a busy Christmas season, which coincided with a General Election for the first time in almost a century. We achieved a high quality service for customers across the UK due to …

Royal Mail seeks injunction due to potential irregularities in CWU ballot

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Royal Mail plc (LON: RMG) has announced that it will today make an application to the High Court for an interim order to injunct CWU with respect to its recent postal ballot of Royal Mail employees for industrial action. The Company believes there are potential irregularities in the ballot, which would render it unlawful. The Company is making this High …

Royal Mail Continued good revenue growth in GLS

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Royal Mail plc (LON:RMG) today announced its results for the half year ended 23 September 2018.

Rico Back, Group Chief Executive Officer, commenting on the results, said: “We have put in place a range of actions to improve our performance. We are reconfirming our commitment to our revised £100 million cost avoidance target and adjusted Group operating profit before transformation costs of £500 million – £550 million for the financial year.

“We will update the market next year on our strategy. There will be a greater emphasis on how we connect customers, companies and countries through our domestic and international businesses. There will be a clearer focus on financial performance and management accountability. In March, we will host our first Capital Markets day since IPO in 2013. We will share more detail then about our direction for the next five years.”

Group financial summar

Royal Mail plc Board and management changes

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The Board of Royal Mail plc (LON:RMG) announced that Keith Williams, Chair of the Audit & Risk Committee, is also being appointed Deputy Chairman with immediate effect. Keith is increasing his commitment to Royal Mail. He is in the process of reviewing his external commitments, and any changes will be announced as required. As Executive Chairman of British Airways until 2016, Keith has a very strong track record in operational transformation, digital strategy and industrial relations, including pensions.

The Group is also revising its executive structure, with changes in the organisational structure of Post and Parcels UK. After 12 years’ service, Sue Whalley, CEO, Post and Parcels UK, and the Board have agreed that she will leave Royal Mail. She will step down from the Board with immediate effect and transition her responsibilities by the end of March 2019. Rico Back, Group CEO, will assume commercial responsibilities for Post and Parcels – domestic letters and

Royal Mail plc acquired Canadian parcel delivery company, Dicom Canada

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Royal Mail plc (LON:RMG) announced that its subsidiary, General Logistics Systems (GLS), has acquired Canadian parcel delivery company, Dicom Canada, from Wind Point Partners, a Chicago-based private equity firm. Dicom Canada primarily provides business-to-business parcel services, operating across Canada, with a major focus on the Eastern Canadian provinces of Ontario and Quebec. Canada is the world’s 10th largest economy[1], with Ontario …

Royal Mail PLC response to Ofcom statement

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Royal Mail Plc (LON: RMG) will appeal Ofcom’s decision taken under its Competition Act powers which was announced today. The decision relates to a price change announced in 2014 – which was never implemented or paid – under Royal Mail’s Access1 Letters Contract. The infringement decision relates to an Access price differential (see below) which was announced in January 2014, automatically …