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Royal Mail PLC (RMG.L)

RMG.L on London Stock Exchange

387.40GBp
22 Sep 2017
Change (% chg)

-0.10 (-0.03%)
Prev Close
387.50
Open
386.60
Day's High
387.40
Day's Low
383.70
Volume
2,577,302
Avg. Vol
4,658,432
52-wk High
521.50
52-wk Low
370.01

Latest Key Developments (Source: Significant Developments)

Royal Mail says to sell part of its Mount Pleasant site for 193.5 mln stg
Wednesday, 30 Aug 2017 12:15pm EDT 

Aug 30 (Reuters) - Royal Mail Plc :CONTRACTS HAVE BEEN EXCHANGED FOR SALE OF 6.25 ACRES OF ITS MOUNT PLEASANT SITE TO TAYLOR WIMPEY UK LTD.DEAL FOR A TOTAL GROSS CONSIDERATION OF £193.5 MILLION.CONSIDERATION IS MADE UP OF £190 MILLION IN CASH AND FAIR VALUE OF PARKING FACILITIES PROVIDED FOR ROYAL MAIL OF £3.5 MILLION.A DEPOSIT OF £9.5 MILLION HAS BEEN PAID TO ROYAL MAIL FOLLOWING EXCHANGE OF CONTRACTS.COMPLETION ON PHOENIX PLACE IS UNCONDITIONAL AND IS EXPECTED IN 2017.  Full Article

Royal Mail says qtrly revenue up 1 pct, on strength in GLS
Tuesday, 18 Jul 2017 02:00am EDT 

July 18 (Reuters) - Royal Mail Plc ::Trading update for three months ended 25 June 2017.Group revenue was up 1%, driven by another strong performance in GLS for three months ended 25 June 2017.GLS performance more than offset a 1 pct decline in ukpil revenue for three months ended 25 June 2017.UK parcels attracted new customers and higher volumes for three months ended 25 June 2017.Performance in letters was better than we expected, despite continued business uncertainty in UK for three months ended 25 June 2017."Trading performance in first three months of financial year was good".On track to deliver our cost avoidance and net cash investment targets for full year.Cost avoidance programme is on track to deliver around £190m of ukpil operating costs avoided in 2017-18.Expect that total net cash investment will be around £450 mln this year.  Full Article

Unite says to hold consultative ballot on Royal Mail pension proposals
Friday, 14 Jul 2017 05:16am EDT 

July 14 (Reuters) - Unite::To hold consultative ballot on royal mail pension proposals.Said that it would be making no recommendation to its members on the package.The balloting of members is due to start early next week and close on monday 7 august."We have had many discussions with the company over the last few months and these have been difficult."."However, the unite negotiating team consider that what is on offer is the best achievable in the circumstances".  Full Article

Royal Mail updates all pension plans
Friday, 14 Jul 2017 03:00am EDT 

July 14 (Reuters) - Royal Mail Plc ::Royal mail 2018 pension review update.‍Update on its 2018 pension review in respect of future of royal mail pension plan​.Offering members a choice between a defined benefit scheme and a defined contribution scheme, set up as new sections of co's pension plan​.Has also offered this improved proposal to CWU, making it available to all plan members.Had extensive talks with our unions, Unite/CMA and CWU, on a sustainable and affordable solution for retirement benefits for plan members after 31 March 2018.Understands that unite is planning to hold a consultative ballot 1 of its members on this proposal.Expects overall cost of proposal will be funded within its current 400 mln stg annual pension contribution.Risk to co of proposed defined benefit cash balance scheme would be materially lower than under current plan and is a manageable risk​.  Full Article

Royal Mail confirms discussions for sale of part of Mount Pleasant site
Friday, 23 Jun 2017 12:46am EDT 

June 23 (Reuters) - Royal Mail PLC : :Confirms co is in discussions regarding the possible sale of part of its Mount Pleasant site.Says discussions are ongoing and there is no certainty as to when or whether any transaction will be agreed.  Full Article

Royal Mail exchange of contract for sale of 2 plots
Monday, 5 Jun 2017 02:07am EDT 

June 5 (Reuters) - Royal Mail Plc :Exchange of contract for sale of 2 nine Elms plots.Conditional contracts exchanged for sale of two of seven plots (plots B and D) on its nine elms site to Greystar for £101 million in cash​.Greystar intends to develop purpose-built, high specification private rental apartment buildings on two plots​.  Full Article

Royal Mail FY adjusted revenue 9.78 bln STG vs 9.25 mln STG year ago
Thursday, 18 May 2017 02:00am EDT 

May 18 (Reuters) - Royal Mail Plc :Final dividend 15.6 pence per share.Total dividend 23 pence per share.FY adjusted revenue 9.78 billion STG versus 9.25 billion STG year ago.FY adjusted profit before tax 335 million STG versus 267 million stg year ago.FY net debt 338 million STG.Expect to keep in step with addressable uk parcels market growth of around three per cent due to it-enabled improvements.Remain on track to avoid around £600 million of annualised operating costs in UKPIL by 2017-18.Expect net cash investment of around £450 million in 2017-18 and less than £500 million per annum going forward.Responding to challenging operating environment and continuing to focus on sustainable cash generation.Maintain outlook for addressed letter volume decline of between four to six per cent per annum.FY UKPIL revenue 7.66 billion stg versus 7.67 billion stg.FY net cash investment was £492 million compared to £656 million in 2015-16.FY UKPIL parcel volumes were up three per cent, driven by growth in royal mail account parcels.Final dividend of 15.6 pence per ordinary share, giving total dividend of 23.0 pence per share for 2016-17, up four per cent.  Full Article

Royal Mail names finance director Stuart Simpson as CFO
Monday, 15 May 2017 06:16am EDT 

May 15 (Reuters) - Royal Mail Plc ::Stuart Simpson, director of group finance, will be appointed chief finance officer (cfo) and join royal mail board.Royal mail plc announces appointment of stuart simpson as chief finance officer.Simpson's appointment follows a comprehensive search that included both internal and external candidates..Stuart simpson will take up his new post at conclusion of company's annual general meeting (agm) to be held on thursday 20 july 2017.  Full Article

Royal Mail confirms closure of pension plan
Monday, 8 May 2017 05:33am EDT 

May 8 (Reuters) - Royal Mail Plc ::Update on pension valuation & 2018 pension review.Most recent valuation of royal mail pension plan ( plan) has been completed.Under assumptions used for valuation, as at 31 march 2015, plan had assets of £6,153 million and liabilities of £4,451 million.Using these assumptions, cost of benefits being accrued each year, based on market conditions at end of march 2017, would currently be around £1.3 billion.Is significantly greater than total annual contributions of around £400 million that company and employees make.Given plan was in surplus at valuation date, no deficit correction payments are required..Company contribution rate will remain at 17.1 pct of members' pensionable pay until 31 March 2018.Following trustee approval, company confirms that plan, in its current form, will close to future accrual on 31 march 2018.We continue to work closely with our unions on a sustainable and affordable solution for provision of pension benefits after 31 march 2018..  Full Article

Unite warns of industrial action against Royal Mail if pension scheme talks fail
Friday, 28 Apr 2017 08:25am EDT 

April 28 (Reuters) - Unite::Talks with the Royal Mail over plans to close its pension scheme in its current form are ‘complex and difficult’.At this stage, it is not possible to say if an agreed solution can be found.Committed to making every effort to ensure our members have decent pensions’ provision in the future.If we don’t achieve a satisfactory outcome, we can't rule out an industrial action ballot on this issue.Will start pay negotiations with the management soon to meet a pay review date later this year.  Full Article

Britain's CWU to ballot Royal Mail workers on industrial action

Sept 5 Britain's Communications Workers Union (CWU) will ballot more than 100,000 of its members working for Royal Mail Plc over industrial action, it said on Tuesday.