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Royal Mail PLC (RMG.L)

RMG.L on London Stock Exchange

23 Mar 2017
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9.50 (+2.33%)
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Latest Key Developments (Source: Significant Developments)

Royal Mail responds to UK's Ofcom review
Wednesday, 1 Mar 2017 11:12am EST 

Royal Mail Plc : Notes that Ofcom continues to find high levels of customer satisfaction and value for money with postal services . Ofcom has stated that there is strong competition in access market . Ofcom has also recognised our progress on efficiency. .Disappointed that Ofcom does not agree with us that there is a pressing need for a pro-active framework to help sustain universal service.  Full Article

Royal Mail says will review Ofcom document
Wednesday, 1 Mar 2017 02:18am EST 

Royal Mail Plc : Royal Mail response to ofcom statement .Reviewing document and will issue a statement in due course.  Full Article

Royal Mail says CFO Matthew Lester to step down in July 2017
Tuesday, 20 Dec 2016 07:00am EST 

Royal Mail Plc : Matthew Lester to step down in July 2017 as chief finance officer of Royal Mail Plc . Informed board of his intention to step down as CFO and leave board following company's annual general meeting in July 2017 . He will not be standing for re-election at that time . Lester is staying on beyond his contractual notice period to enable an orderly succession .Company will be initiated a process to appoint Lester's successor and will consider both internal and external candidates.  Full Article

Royal Mail sees no impact from CWU union postal strike
Wednesday, 14 Dec 2016 07:02am EST 

Royal Mail Plc : Royal Mail will be operating as normal next week when CWU union says its members in post office will take industrial action . Expect there to be no or little impact our parcels or letters operations .There is no change in our guidance on last posting dates.  Full Article

Royal Mail says first-half performance in line with expectations
Thursday, 17 Nov 2016 02:00am EST 

Royal Mail Plc : Performance was broadly in line with our expectations . Group revenue increased by one per cent on an underlying basis, driven by a good performance from GLS, our continental European parcels business . Increased our cost avoidance target from 500 mln stg to 600 mln stg of annualised costs cumulative over three financial years ending 2017-18 . Adjusted operating profit before transformation costs was 320 mln stg . Has declared a dividend of 7.4 pence per share for half year ended Sept.25 2016 . Now expect net cash investment to be no more than 500 mln stg per annum going forward . Delivered UK parcel volume and revenue growth including new contract wins . Addressed letter volume decline was within our forecast range . Targeting to reduce underlying UKPIL operating costs before transformation by up to one per cent in 2016-17 . In-Year trading cash flow increased to 116 mln stg, reflecting more efficient investment SPEN . Transformation costs are now expected to be between 130-160 mln stg for 2016-17 . Outcome for full year will be dependent on important Christmas period .Interim dividend 7.4 pence per share.  Full Article

Royal Mail and Parcelforce unable to accept posting of Galaxy Note 7 phones due to recent concerns
Wednesday, 12 Oct 2016 09:11am EDT 

Royal Mail : Royal Mail- Due to incidents, concerns raised by Samsung about Galaxy Note 7, Royal Mail, Parcelforce are unable to accept posting of Galaxy Note 7 phones ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Royal Mail says GLS acquires Golden State Overnight for $90 mln
Tuesday, 4 Oct 2016 04:00am EDT 

Royal Mail Plc : GLS acquires Golden State Overnight . General Logistics Systems (GLS) has acquired regional next day parcel delivery company, Golden State Overnight Delivery Service Inc . Acquisition provides GLS with a focused and targeted market position in this geography . Total consideration paid for GSO is $90 million (about 70 million stg), which will be funded from existing resources . Transaction is expected to be economic profit accretive 5 for GLS in 2019-20. . GSO will be fully consolidated within GLS for reporting purposes but will be managed as a separate entity .Says Dana Hyatt, chief executive officer, who will continue to lead company, together with GSO's existing management team.  Full Article

UK's CWU says to fight Royal Mail's plan to end pension scheme
Thursday, 11 Aug 2016 11:17am EDT 

UK's Communication Workers Union (CWU): CWU rejects Royal Mail pension closure . Responding to press reports that Royal Mail plans to close defined benefit pension scheme, CWU said it will fight the plans .Members overwhelmingly rejected Royal Mail's closure plans and agreed a clear policy to safeguard the future of defined benefit scheme.  Full Article

Royal Mail says Spanish competition authority investigating GLS Spain
Friday, 5 Aug 2016 09:17am EDT 

Royal Mail Plc : Spanish competition authority, Comisión Nacional de los Mercados y la Competencia (CNMC) investigation . Notes that Spanish competition authority has today opened formal proceedings against GLS Spain, and other companies, for an alleged breach of Spanish Competition Act . "We have completed a compliance review of GLS Group and we are not aware of any other matter which could be subject of any other investigation by a relevant competition law authority" . Fully cooperating with CNMC in order to clarify facts under investigation . "Continue to keep our processes under review to ensure we maintain appropriate oversight" ."Does not expect any fine to be material".  Full Article

Royal Mail says quarterly trading met its expectations
Tuesday, 19 Jul 2016 02:05am EDT 

Royal Mail Plc : Group revenue was up 1 pct while in uk revenue was down 1 pct. In Europe, GLS continued to perform well . Ukpil revenue was down 1 pct, with parcel revenue up 2 pct and letter revenue down 3 pct . Revenue from political parties' election mailings was similar to prior period due to increased activity around eu referendum . Trading in three months ended 26 June 2016 was in line with our expectations . Trading in period was in line with our expectations . Movements in gdp are drivers for letter and b2b parcel volumes and we are monitoring situation .Addressed letter volumes down 2 percent and parcels volumes up 2 percent.  Full Article

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RPT-UPDATE 2-Royal Mail's UK letters business continues its decline

Jan 19 Britain's Royal Mail Plc reported a further drop in domestic revenues on Thursday as the decline in its original core business of delivering letters worsened, sending its share price down by over 6 percent.