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Royal Mail full-year results

17 May 2020, 22:35

https://uk.investing.com/analysis/the-w ... -200441793

Royal Mail full-year results

Friday: Royal Mail has been one of the few organisations that has continued working throughout the Covid-19 crisis, albeit on the back of some modified working practices to ensure employee safety. If its parcels division doesn’t come out ahead of expectations, given the higher volume of online business since the March lockdown, it will be a disappointment, despite lowered expectations. Last May, Royal Mail cut its dividend in order to free up £1.8bn over five years, as management look to lower costs. This could prove problematic due to relations with the unions, who are likely to push back on automation. The departure of Rico Back as CEO might be a turning point in this regard though. Management need to reconnect with the workforce, and a new management team might be able to push through some of the necessary changes that need to be made for the business to stay viable. In November, the company had a target of £300m-£340m. This could be optimistic, particularly if its letters division underperforms due to the lockdown as widely expected, although its parcels area has the potential to offset this.

Royal Mail full-year results

18 May 2020, 05:50

Eh. The lock-down began nationwide on 23 March. The financial year ended on 5 April.

A period of less than 2 weeks - however good - isn't going to be reflected much.

Here's another rewrite:

"Royal Mail decided to cut its dividend, freeing up £300 million a year for better uses. We're going to bad-mouth them anyway, so really, it makes no difference to us."

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