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Royal Mail PLC (RMG.L)

RMG.L on London Stock Exchange

464.40GBp
17 Aug 2018
Change (% chg)

2.70 (+0.58%)
Prev Close
461.70
Open
460.00
Day's High
464.80
Day's Low
457.70
Volume
1,982,916
Avg. Vol
4,376,463
52-wk High
632.60
52-wk Low
367.80

Latest Key Developments (Source: Significant Developments)

UK's Ofcom To Investigate Royal Mail After Co Misses Service Targets
Friday, 1 Jun 2018 06:05am EDT 

June 1 (Reuters) - UK's OFCOM::OWN-INITIATIVE INVESTIGATION INTO ROYAL MAIL GROUP LIMITED CONCERNING COMPLIANCE WITH DESIGNATED USP CONDITION.ON 11 MAY 2018 ROYAL MAIL ANNOUNCED THAT IT HAD NOT MET SOME OF THESE QUALITY OF SERVICE TARGETS IN 2017/18.DECIDED TO OPEN INVESTIGATION TO DETERMINE WHETHER CO FAILED TO COMPLY OBLIGATIONS UNDER DUSP CONDITION IN RESPECT OF 2017/18.  Full Article

Royal Mail annual revenue grows
Thursday, 17 May 2018 02:16am EDT 

May 17 (Reuters) - Royal Mail PLC ::FY REVENUE 10,172 MILLION STG VERSUS 9,776 MILLION STG.FY PROFIT BEFORE TAX 212 MILLION STG VERSUS 335 MILLION STG.ON A REPORTED BASIS, FY OPERATING PROFIT BEFORE TRANSFORMATION COSTS WAS £236 MILLION.FY ADJUSTED OPERATING PROFIT BEFORE TRANSFORMATION COSTS WAS £694 MILLION, UP ONE PER CENT ON AN UNDERLYING BASIS.FY TOTAL NET CASH INVESTMENT WAS £445 MILLION, DOWN FROM £492 MILLION IN 2016-17.BOARD IS RECOMMENDING A FINAL DIVIDEND OF 16.3 PENCE PER ORDINARY SHARE,, UP FOUR PER CENT.2018-19 UKPIL PARCEL VOLUME AND REVENUE GROWTH RATES ANTICIPATED TO BE AT LEAST SAME AS 2017-18.TARGETING TO AVOID AROUND £230 MILLION OF UKPIL COSTS IN 2018-19.MAINTAIN OUTLOOK FOR ADDRESSED LETTER VOLUME DECLINES OF 4 TO 6 PER CENT PER ANNUM (EXCLUDING ELECTION MAILINGS) OVER MEDIUM‑TERM.TRANSFORMATION COSTS EXPECTED TO BE AT UPPER END OF FORECAST £130-150 MILLION RANGE IN 2018-19.EXPECT CONTINUED GOOD PERFORMANCE IN GLS; MARGINS MAY BE IMPACTED BY CONTINUING LABOUR MARKET PRESSURES.REMAIN COMMITTED TO PROGRESSIVE DIVIDEND POLICY GOING FORWARDS.TOTAL NET CASH INVESTMENT EXPECTED TO BE AROUND £500 MILLION IN 2018-19.  Full Article

Royal Mail Says Moya Greene To Retire In September
Friday, 20 Apr 2018 02:00am EDT 

April 20 (Reuters) - Royal Mail PLC ::MOYA GREENE TO RETIRE FROM ROYAL MAIL GROUP IN SEPTEMBER 2018.RICO BACK WILL ASSUME ROLE OF GROUP CEO OF COMPANY AND JOIN BOARD ON 1 JUNE 2018.RICO BACK WILL ASSUME ROLE OF GROUP CEO OF COMPANY AND JOIN BOARD ON 1 JUNE 2018, FOLLOWING ANNOUNCEMENT OF 2017-18 RESULTS.RICO BACK WILL ASSUME ROLE OF GROUP CEO OF COMPANY AND JOIN BOARD ON 1 JUNE 2018.  Full Article

Royal Mail Proposes To Relocate Inverness Mail Centre To A New Site In City
Thursday, 12 Apr 2018 04:50am EDT 

April 12 (Reuters) - Royal Mail PLC ::PROPOSING TO RELOCATE INVERNESS MAIL CENTRE AND DELIVERY OFFICE TO A NEW SITE IN SEAFIELD ROAD IN CITY.MOVE REPRESENTS AN INVESTMENT OF £6.6 MILLION BY COMPANY.  Full Article

Royal Mail And Union Reach Agreement
Thursday, 1 Feb 2018 07:22am EST 

Feb 1 (Reuters) - Royal Mail Plc ::ROYAL MAIL AND CWU AGREEMENT AND TRADING UPDATE.‍AGREEMENT REACHED BETWEEN ROYAL MAIL AND CWU AND TRADING UPDATE​.‍NOW EXPECT TO DELIVER ADJUSTED GROUP OPERATING PROFIT BEFORE TRANSFORMATION COSTS OF AT LEAST £680 MILLION FOR 2017-18​.ROYAL MAIL - ‍PROPOSED AGREEMENT HAS BEEN CONSIDERED BY EXECUTIVE OF UNION WHO RECOMMEND THAT CWU MEMBERS VOTE IN FAVOUR OF IT IN AN UPCOMING BALLOT​.ROYAL MAIL- ‍REACHED AGREEMENT IN PRINCIPLE WITH COMMUNICATION WORKERS UNION (CWU) ON PENSIONS, PAY, A SHORTER WORKING WEEK, CULTURE AND OPERATIONAL CHANGES​.‍PROPOSED AGREEMENT HAS BEEN APPROVED BY ROYAL MAIL PLC BOARD​.‍ONGOING ANNUAL CASH COST OF PENSIONS WILL CONTINUE TO BE AROUND £400 MILLION​.ROYAL MAIL - TRANSITIONAL PENSION ARRANGEMENTS WILL REMAIN IN PLACE UNTIL SUCH TIME AS LEGISLATION ENABLING CREATION OF A CDC SCHEME COMES INTO EFFECT.ROYAL MAIL - ‍FROM OCTOBER 2017, THERE WILL BE A 5% INCREASE IN PAY (INCLUDING BASE PAY, OVERTIME AND ALLOWANCES). THIS RATE OF PAY WILL APPLY FOR 2018-19​.LAST LETTER DELIVERY TIME WILL MOVE BACK BY 30 MINUTES TO 3.30PM IN URBAN AREAS AND 4.30PM IN RURAL AREAS.‍AGREEMENT INCLUDES COMMITMENT TO MOVE TOWARDS 35 HOUR WORKING WEEK BY 2022​.ROYAL MAIL - ‍FROM APRIL 2019, THEER WILL BE A 2% INCREASE IN PAY AND A FURTHER ONE HOUR REDUCTION TO WORKING WEEK FROM OCTOBER 2019​.  Full Article

Royal Mail Says GLS Acquires Redyser Transporte​
Thursday, 1 Feb 2018 05:12am EST 

Feb 1 (Reuters) - Royal Mail Plc ::‍GLS ACQUIRES REDYSER​.‍GLS ACQUIRES SPANISH EXPRESS PARCELS DELIVERY COMPANY, REDYSER TRANSPORTE​.‍TOTAL CONSIDERATION PAID FOR 100% OF SHARES IN REDYSER IS EUR 16.5 MILLION​.  Full Article

Royal Mail posts H1 pretax profit of 77 million stg
Thursday, 16 Nov 2017 02:00am EST 

Nov 16 (Reuters) - Royal Mail Plc :INTERIM DIVIDEND 7.7 PENCEPER SHARE.H1 PRETAX PROFIT 77 MILLION STG VERSUS 110 MILLION STG YEAR AGO.HY MARGIN 5.4 PERCENT VERSUS 5.7 PERCENT.INTERIM DIVIDEND 7.7 PENCE PER SHARE.SAYS "WE ARE OPENING SIX TEMPORARY PARCEL SORT CENTRES AND RECRUITING OVER 20,000 STAFF".HY REVENUE 4,829 MILLION POUNDS VERSUS 4,583 MILLION POUNDS.HY PROFIT BEFORE TAX 250 MILLION POUNDS VERSUS 252 MILLION POUNDS.‍OUR PERFORMANCE FOR FULL YEAR, AS ALWAYS, WILL BE DEPENDENT ON IMPORTANT CHRISTMAS PERIOD​.‍OUR UKPIL COST AVOIDANCE PROGRAMME IS ON TRACK TO DELIVER AROUND £190 MILLION COSTS AVOIDED THIS YEAR​.‍WE MAINTAIN OUR OUTLOOK FOR ADDRESSED LETTER VOLUME DECLINES OF BETWEEN FOUR TO SIX PER CENT PER ANNUM (EXCLUDING POLITICAL PARTIES' ELECTION​.SAYS IN GLS, UNDERLYING REVENUE GROWTH FOR FULL YEAR ANTICIPATED TO BE BROADLY IN LINE WITH FIRST HALF.  Full Article

Royal Mail says talks with union could be extended to reach an agreement
Wednesday, 25 Oct 2017 07:42am EDT 

Oct 25 (Reuters) - Royal Mail Plc :ROYAL MAIL PLC - CO, THE CWU HAVE APPOINTED PROFESSOR LYNETTE HARRIS TO MEDIATE TALKS UNDER THE DISPUTE RESOLUTION PROCEDURES.ROYAL MAIL PLC - TALKS COVER PAY, PENSIONS AND OTHER ISSUES.ROYAL MAIL PLC - MOYA GREENE, CEO, WILL LEAD THESE TALKS FOR ROYAL MAIL.ROYAL MAIL PLC - THE PROCEDURES ALLOW SEVEN WEEKS FOR NEGOTIATIONS FROM THE APPOINTMENT OF A MEDIATOR.ROYAL MAIL PLC - WE ANTICIPATE THAT DISCUSSIONS COULD BE EXTENDED TO FACILITATE AN AGREEMENT.  Full Article

UK's CWU says "extremely disappointed" at the Royal Mail court ruling‍​
Thursday, 12 Oct 2017 11:11am EDT 

Oct 12 (Reuters) - Britain's Communications Workers Union (CWU)::UK'S CWU SAYS "EXTREMELY DISAPPOINTED AT THE ROYAL MAIL COURT RULING"‍​.UK'S CWU SAYS “UNLESS CO SIGNIFICANTLY SHIFTS ITS POSITION ON RANGE OF ISSUES AND CAN QUICKLY CONCLUDE A GOOD AGREEMENT FOR MEMBERS THEN STRIKE ACTION IS INEVITABLE“‍​.  Full Article

Royal Mail gets court injunction to stop workers strike
Thursday, 12 Oct 2017 11:06am EDT 

Oct 12 (Reuters) - Royal Mail Plc :‍HIGH COURT CONFIRMS CONTRACTUAL DISPUTE RESOLUTION PROCEDURES MUST BE FOLLOWED BEFORE INDUSTRIAL ACTION​.‍COURT'S FINAL INJUNCTION MEANS THAT ANY STRIKE ACTION BEFORE DISPUTE RESOLUTION PROCEDURES HAVE BEEN FOLLOWED WOULD BE UNLAWFUL​.‍WILL NOW MAKE CONTACT WITH CWU AS A MATTER OF URGENCY TO BEGIN PROCESS OF EXTERNAL MEDIATION​.‍MEDIATION PROCESS WILL TAKE CLOSE TO CHRISTMAS TO BE COMPLETED, AND MAY BE LONGER​.‍FIRST STEP IS SELECTING A MEDIATOR ACCEPTABLE TO ROYAL MAIL AND CWU FROM A PANEL THAT WAS AGREED BY BOTH PARTIES UNDER AGENDA FOR GROWTH​.‍CWU COMMITTED TO AN INDUSTRIAL STABILITY FRAMEWORK WITH DEFINED PROCESSES AND STRICT TIMESCALES TO RESOLVE DISPUTES​.  Full Article

UPDATE 1-UK's Royal Mail fined 50 mln stg for competition rule breach

LONDON, Aug 14 Britain's Royal Mail has been fined 50 million pounds ($64 million) for discriminating against Whistl, its only major competitor delivering letters, regulator Ofcom said on Tuesday.