https://www.theguardian.com/business/20 ... -reshuffle
Broadcaster ITV and postal delivery group Royal Mail are being ejected from the UK’s blue-chip share index in its latest reshuffle.
Both companies are dropping out of the FTSE 100 index after their values fell amid the cost-of-living crisis and the economic turmoil caused by the war in Ukraine.
Royal Mail has also been hit by rising costs, and a decline in demand for parcel deliveries as Covid-19 restrictions have been relaxed. Pre-tax profits at the postal operator fell 8.8% in the last financial year, and it warned last month that it would lift prices to counter climbing inflation.
Royal Mail’s shares have fallen about 40% this year. Richard Hunter, head of markets at Interactive Investor, said it couldn’t escape the drop this time after narrowly avoiding relegation in March. “Any progress on its transformation and parcel volumes has been more than offset by inflationary cost pressures, ongoing pay talks with the unions, tougher comparatives and, of course, steeply declining letter volumes,” he said.
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Royal Mail drop out of FTSE 100 in reshuffle
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Royal Mail drop out of FTSE 100 in reshuffle
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.