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Royal Mail chief executive Rico Back tops up his share allocation by 500k with shares priced between 300p and 318p

02 Dec 2018, 22:30

https://www.investorschronicle.co.uk/shares/2018/11/29/royal-mail-chief-executive-tops-up/

Royal Mail chief executive tops up
By Julia Faurschou

Royal Mail (RMG) recently revealed that its parcel and international logistics systems (GLS) business – previously the most resilient division – had started to show signs of weakness. Rising costs drove margins down from 7.5 per cent to 5.7 per cent, a far greater contraction that analysts had anticipated. This followed October’s profit warning, when management informed the market that missed productivity and cost-savings targets would dent operating profit. Meanwhile, a 7 per cent fall in letter volumes exceeded the expected 4 to 6 per cent decline and a 6 per cent improvement in UK parcel volumes failed to offset the damage.

Such disappointments sent the shares tumbling, so it’s no wonder management is attempting to shore up confidence in a potential recovery. Chief executive Rico Back purchased 162,000 Royal Mail shares priced between 300p and 318p, spending £506,044 in total. Mr Black used to head up the GLS division before taking over as group chief executive from Moya Greene earlier this year.

Buys
Company Director Date No of shares Price (p) Value (£) Holding (shares) Holding (%)
Royal Mail Rico Back (ceo) 20 Nov 18 50,000 299.9323 149,966 212,000 0.021
Royal Mail Rico Back (ceo) 19 Nov 18 112,000 317.9268 356,078 162,000 0.016

Royal Mail chief executive Rico Back tops up his share allocation by 500k with shares priced between 300p and 318p

06 Dec 2018, 18:21

He buys half a million quid in shares.

The share holders need feeding.

2019/2020 will see the wage bill/overtime slashed by millions in order push share price back up.

1/6th (20,000) will be given redundancy, retire, dismissed.

Get ready for a huge fight.

Royal Mail chief executive Rico Back tops up his share allocation by 500k with shares priced between 300p and 318p

06 Dec 2018, 19:04

I concur. The half-year financial report mentioned one of the challenges going forward being the 'ageing workforce', and of course the poor results of the cost cutting for the period would lead you to believe that is going to be the continued focus going forward. I read somewhere that plans were to be unveiled/ introduced in the spring. I personally think the share is good for a couple more dividends, before the level of cost-cutting reaches saturation point.

Royal Mail chief executive Rico Back tops up his share allocation by 500k with shares priced between 300p and 318p

06 Dec 2018, 19:28

Bond Villain pulled a masterstroke by announcing a profit warning sending the share price tumbling and then hoovered up 162,00 shares at half the price.

Royal Mail chief executive Rico Back tops up his share allocation by 500k with shares priced between 300p and 318p

06 Dec 2018, 20:16

Sir Henry wrote:Bond Villain pulled a masterstroke by announcing a profit warning sending the share price tumbling and then hoovered up 162,00 shares at half the price.

Just what I thought.

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