0 Have your say Royal Mail has delivered yet more gloom over full-year profits and warned of a worse-than-expected fall in addressed letter mailings, as business uncertainty takes its toll. The group, which sent shares plummeting last October after alerting over profits, said addressed letter mailings tumbled 8% over the nine months to December 23 despite its busy Christmas period.It said letter volumes are set to fall by 7% to 8% over the full year and will be worse than forecast 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 £500 million and £530 million against the previous forecast of £500 million to £550 million.This marks a hefty fall on the £694 million reported last year.Shares fell as much as 20% last October when Royal Mail first revealed the extent of the expected profits … [Read more...] about Business uncertainty affects letter volumes at Royal Mail
Royal mail
Royal Mail warns over worsening decline in letter mailings
News / UK and world by Press Association January 29, 2019, 8:03 am Send us a story Sign up to our Daily newsletter Royal Mail has delivered yet more gloom over full-year profits and warned of a worse-than-expected fall in addressed letter mailings, as business uncertainty takes its toll. The group, which sent shares plummeting last October after alerting over profits, said addressed letter mailings tumbled 8% over the nine months to December 23 despite its busy Christmas period. It said letter volumes are set to fall by 7% to 8% over the full year and will be worse than forecast 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 £500 million and £530 million against the previous forecast of £500 million to £550 million. This marks a hefty fall on the £694 million reported … [Read more...] about Royal Mail warns over worsening decline in letter mailings
Royal Mail profits down despite a rise in parcel deliveries and a busy Christmas
Royal Mail has warned the fall in addressed letter mail by volume is set to be worse than expected next financial year amid business uncertainty. It said letters by volume dropped 8% over the nine months to December 23, with letter revenues down 6%. But overall it reported a 2% rise in underlying revenues for the period as an 8% rise in revenues at its General Logistics Systems (GLS) division offset a 1% fall in its UK parcels and letters arm. Royal Mail confirmed it expects group underlying earnings to tumble to between £500million to £530million, compared with £694million last year. This comes after it warned over annual profits last October. Royal Mail chief executive Rico Back said: "We have had a busy Christmas season. "In the UK we recruited 23,000 seasonal workers and opened six temporary parcel sorting centres to make sure we had the capacity to handle the high volumes of parcels and cards through our network. "In the December trading period alone we handled … [Read more...] about Royal Mail profits down despite a rise in parcel deliveries and a busy Christmas
Royal Mail told to get a move on by Barrett
A Perth city centre councillor has called on Royal Mail to “get a move on” with the re-installation of a postbox removed just before Christmas. Cllr Peter Barrett has called for the postbox, previously located at Langley Drive and St Mary’s Drive in Kinnoull, to be replaced after it was removed in December because the lamppost it was mounted on was being replaced. However, nearly two months later, the box has still not been replaced. A member of the Bridgend Gannochy and Kinnoull Community Council also contacted Cllr Barrett and said that residents are concerned that it was removed without any notification or consultation. Cllr Barrett said: “Local residents were angry at Royal Mail withdrawing the service at the busiest posting time of the year. “This was particularly galling because nothing was done to provide a postbox on-site as an interim measure.” The new street lighting columns in the area have now been installed for “weeks” … [Read more...] about Royal Mail told to get a move on by Barrett
Royal Mail confirm areas of Derry affected by delivery service withdrawal
Royal Mail has confirmed a number of areas of Derry will not get their mail today as a result of the hijacking on one of its vans in the city yesterday. A red Royal Mail postal van was targeted yesterday afternoon and the driver told by an armed gang to abandon the vehicle at Lonemoor Road. A security operation on Southway saw the road closed and residents at Iona Terrace evacuated for a time.The incident was one of the three confirmed hoaxes yesterday, the others at Circular Road and Northland Road. There was also an attempt by masked youths to hijack an Ulsterbus on Moss Road in the Galliagh area of the city, which resulted in services being withdrawn for a short time. A Housing Executive spokesperson meanwhile confirmed that maintenance services have been withdrawn from some areas after a vehicle belonging to one of its contractors was targeted yesterday.A spokesperson said: “On the advice of PSNI, we are not delivering mail in some areas of Londonderry/Derry today. These are … [Read more...] about Royal Mail confirm areas of Derry affected by delivery service withdrawal