Royal Mail share price drops 5pc as chief warns on threats to business May 22, 2014 Royal Mail has reported some pretty healthy full-year results, although fears for the long-term security of the business have been compounded by words of warning from chief executive Moya Greene this morning. The company, which floated last October, experienced a 83 per cent leap in reported profit before tax, to £1.6bn. Revenue increase two per cent, [...]
The stiff competition facing Royal Mail May 21, 2014 Ahead of its first set of full-year results as a listed company tomorrow, Royal Mail’s announced it’s going to trial delivering parcels on Sundays. Later this summer, it’ll open about 100 offices on Sunday afternoons for customers to pick up parcels. It’ll also pilot delivering parcels within the M25; and from June, Parcelforce Worldwide, its [...]
Privatisation may have come too late to stop the decline of Royal Mail May 20, 2014 Since privatisation Royal Mail has enjoyed a positive settlement with the Communication Workers Union (CWU), continued to implement its efficiency plan and has reported trading in line with guidance. However, Royal Mail's recent success is under increasing threat as the UK takes off as one of the most liberal and competitive postal markets in the [...]
London Report: Royal Mail set to deliver first annual results May 18, 2014 YEARLY results for Royal Mail this week are likely to inflame anger over the company’s issue price, as analysts expect a significant profit leap. JP Morgan said recently it “remains bullish” and set a target price of 756p a share – a huge jump from the 330p offer price. In economic news, the Bank of [...]
Vince Cable reveals golden ticket Royal Mail investors April 30, 2014 BUSINESS secretary Vince Cable yesterday revealed the 16 priority investors who were given preferential treatment in the Royal Mail sell-off and allocated £728m in shares. When the Royal Mail share price unexpectedly soared by 38 per cent on the first day of trading, it wildly exceeded asset managers’ targets. Almost half of the priority investors’ [...]
Ministers defend Royal Mail sale but refuse to name priority investors April 29, 2014 Ministers and advisers leading the Royal Mail float have insisted the sale was a success, arguing that a higher price might have imperilled the deal and that the priority investors chosen were suitable. In his latest appearance in front of the business select committee to defend the £1.7bn Royal Mail stake sale, business secretary [...]
No reason for us to investigate Royal Mail, regulator tells MPs April 28, 2014 MARTIN Wheatley, the chief executive of the financial regulator, told a committee of MPs yesterday that he sees no reason to investigate the Royal Mail sell-off, despite a National Audit Office report that revealed the UK taxpayer has lost out to the tune of £750m. Appearing before the public accounts committee yesterday, Wheatley said: “Nothing [...]
Royal Mail’s facing a nasty threat, and it’s set to grow April 10, 2014 Royal Mail warned yesterday that an Ofcom review into wholesale mail prices will mean a period of uncertainty. This morning, shares in the FTSE 100 firm have fallen to 502p – down nearly three per cent. The investigation will look at Access market contract charges – Access mail is the type that’s pre-sorted, before being [...]
Cable refuses to apologise over Royal Mail sale April 1, 2014 BUSINESS secretary Vince Cable yesterday refused to apologise over the privatisation of Royal Mail despite mounting criticism that the postal operator had been sold off too cheaply. In a heated House of Commons debate, Cable said “the last thing” he intended to do was apologise and that taking a more aggressive approach on pricing would [...]
Pricing Royal Mail: Welcome to the free market April 1, 2014 LIKE several hundred thousand other ordinary investors, I emerged from Royal Mail’s flotation with 227 shares in my Isa. I don’t normally apply for Initial Public Offerings (IPO), and this one certainly didn’t come without risks. The terms of privatisation required the company to preserve the universal service and Saturday deliveries, which have been dropped [...]