Home Business NewsBreaking: Royal Mail shares crash on profit warning

Breaking: Royal Mail shares crash on profit warning

by LLB Reporter
1st Oct 18 4:14 pm

Shares in Royal Mail tumbled more than 15 per cent today after the company posted a shock profit warning.

The company told media that operating profit before transformation costs would be between ยฃ500m and ยฃ550mโ€” compared with ยฃ694m in 2017.

Chief executive Rico Black added: โ€œTrading conditions in the UK are challenging. Our letter volumes, especially marketing mail, are impacted by ongoing structural decline, business uncertainty and GDPR.

โ€œWhile we now expect addressed letter volume declines outside our forecast range this year, we are maintaining our medium-term guidance.โ€

Leave a Comment

You may also like

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]