Stamp prices have officially risen in price, with the cost of a standard first class letter 70p from today. The changes, as announced in February, now mean you'll have to fork out 61p for a second class stamp and 9p more to have it delivered even quicker. In line with the rise, first class stamps increased by 3p to 70p and second class stamps by 3p to 61p. Last month, the Royal Mail said the pressure on households was taken into account when setting the new rates - and said the costs were still competitive. "Stamp prices are among the best value in Europe when compared to other postal operators," a statement said. New rules also kick for those who are redirecting post from today. As of Monday, pricing will be based on the number of applicants rather than on a per-surname basis to be more reflective of modern society. The company has faced criticism in the past for assuming people who lived at the same address shared a surname - with many campaigners pointing out that this meant … [Read more...] about Royal Mail stamp prices rise today
Royal mail share price
Questor Income Portfolio: after another downbeat trading statement and fall in the share price, is it time to give up on the postal operator? After a quiet time over the festive period, companies whose shares we hold in our Income Portfolio are now announcing results or publishing trading updates. This week we heard from Royal Mail, Crest Nicholson, the housebuilder, and Dairy Crest, the cheese maker. We cover the bad news from Royal Mail below and will report on the better tidings from Crest Nicholson and Dairy Crest next week. Today we also publish our regular performance table. Update: Royal Mail Shares in the postal operator plunged again this week after a downbeat trading statement and... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for free … [Read more...] about Questor: yet more bad news from Royal Mail. Were we wrong to say ‘hold’ last year?
Royal Mail’s shares on Tuesday slumped to a new record low after it warned that Brits are likely to send fewer letters. The business has seen its share price collapse by more than a third since new boss Rico Back joined last June. On Tuesday it said that profits will come in between £500 million and £530 million this year and added that letter volumes are set to deteriorate more than anticipated and parcel deliveries will also slow. The City had expected profits of £500 million to £550 million. The stock plunged 10%, or 31p, to 269p — falling to as low as 250p in early trading. The alert followed a profit warning in October. The share fall came despite a 2% rise in total revenues for the nine months up to Christmas. The letter volumes declined by 8% in Britain, while its parcels division saw a 6% rise. The company has been struggling with rising costs as more people switch to digital communication. It was also affected by a … [Read more...] about Royal Mail shares sink to new low after letters alert
Addressed letter mailings tumbled 8% over the nine months to December 23, despite Royal Mail's busy Christmas period. The group delivered the gloom over full-year profits and said that the fall in addressed letter mailings were worse than expected. The stock took a 10% dive after it said letter volumes are set to fall by 7% to 8% over the full year. And things are looking worse for 2019-20, with Brexit impacting business confidence adding to the ongoing trend for "e-substitution". The group also trimmed the top end of its forecasts for annual earnings to between £500million and £530m against the previous forecast of £500m to £550m. This marks a hefty fall on the £694m reported last year. Shares fell as much as 20% last October when Royal Mail first revealed the extent of the expected profits fall. In its nine-month trading update, Royal Mail reported an overall 2% rise in underlying revenues as an 8% rise in sales at its General … [Read more...] about Royal Mail warns of a worse-than-expected fall in letter mailings
(Reuters) - Royal Mail Plc reined in its full-year profit forecast on Tuesday and spoke of a larger than expected decline in letter volumes, sending its shares down as much as 18 percent to a record low. FILE PHOTO: A Royal Mail postal worker stands in the yard of a sorting office in Altrincham, Britain October 12, 2017. REUTERS/Phil Noble/File Photo Hit by reduced letter volumes as more people switch to email, Royal Mail has been reviewing its operations and testing methods including automation, to deliver post and parcels as its attempts to cut costs have been slower than expected. “While the rate of e-substitution remains in line with our expectations, business uncertainty is impacting letter volumes,” said Chief Executive Officer Rico Back, who took the top job last year. The company also said it would focus on protecting margins in its General Logistics Systems (GLS) business, and warned of slowing GLS volume growth next year as a result. GLS, formerly run … [Read more...] about Royal Mail shares hit record low after profit forecast trimmed