Tag Archives: mostread_company_news

Royal Mail has appointed a senior executive from Heathrow to become its next boss as parent company International Distribution Services looks to turn its fortunes around. Emma Gilthorpe, the west London airport’s chief operating officer since 2020, will join Royal Mail in May, IDS said in a statement on Tuesday. …

The government has blocked Royal Mail’s plans to axe Saturday letter deliveries, it was revealed on Thursday, which could see the price of stamps increase even further. Business minister Kevin Hollinrake confirmed the move in a letter to parliament’s cross-party Business select committee. Royal Mail, owned by International Distributions Services …

Royal Mail chief executive Simon Thompson has quit after a bitter year-long dispute with the postal workers’ union, the company said on Friday. Thompson, who was in the top job for just over two years, last month finally reached a deal with the Communication Workers Union o pay and conditions …

British letter and parcel carrier Royal Mail has told to stop blaming the Covid pandemic for late deliveries after missing performance targets. An investigation by industry regulator Ofcom found that just 82% of first class mail was delivered within one working day in the year to March 31, well below …

Royal Mail owner International Distributions Systems swung to a half-year loss, blaming weak parcel volumes and strikes at the UK postal carrier, and also axed its interim dividend. Reported pre-tax losses came in at £127m, compared with a profit of £315m a year earlier. The company also said it would …

Postal service Royal Mail said on Wednesday that revenues had sunk 11.5% year-on-year during the first quarter of its trading year, reflecting weakening retail trends, lower test kit volumes, and a return to a structural decline in letters. Royal Mail stated it had delivered an adjusted operating loss of £92.0m …

Royal Mail on Monday said it had exchanged contracts to sell the last three remaining plots on its Nine Elms Park site to London Square for £111.2m. Profits from the sale would be used in line with Royal Mail’s capital allocation policy, with around £35m to be reinvested into the …

Royal Mail said it expected a rise in first half profits despite rising costs as the pandemic-driven boom in parcel delivery from online shopping continued to drive revenue growth. The letter and parcel carrier said revenues climbed 8.2% to £5.1bn in the five months to August. It added that it …

It was a grim day for the UK retail sector as beleaguered department store chain Debenhams was set to be liquidated following failed rescue talks with JD Sports, just hours after Philip Green’s Arcadia retail group went into administration. Debenhams said on Tuesday that it will continue to trade through …

Wildwood restaurant chain owner Tasty said on Tuesday it would open around 86% of its estate this month having cut its workforce by more than 30%, as it considered an equity raising and warned of a “challenging” market. The firm said it remained “extremely cautious” regarding trading in September and …