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Chief executive Simon Thompson vowed to do ‘whatever it takes’ to turn the group around after interim results showed it fell to a £219 million loss.
Royal Mail is required by law to maintain the universal service, whereby items of a specific size [72] can be sent to any location within the United Kingdom for a fixed price, not affected by distance. The Postal Services Act 2011 guaranteed that Royal Mail would continue to provide the universal service until at least 2021. [73]
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After the opening up of the industry, competitors such as Whistl and UK Mail found their place offering business postal solutions. These companies, despite being competitors to Royal Mail, hand over sorted mail to the Royal Mail for "last mile delivery" due to the sheer dominance the latter hold in a process called 'Down Stream Access'. [3]
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Parcelforce Worldwide is a trading name of Royal Mail, which is a subsidiary of International Distribution Services, [1] and is organised within the UK Parcels, International and Letters division of the group. [2] The company delivers to destinations worldwide, using an international partner network.
Post Office Limited, formerly Post Office Counters Limited and commonly known as the Post Office, is a state-owned retail post office company in the United Kingdom that provides a wide range of postal and non-postal related products including postage stamps, banking, insurance, bureau de change and identity verification services to the public through its nationwide network of around 11,500 ...
In the case of Royal Mail, the legally binding deal gives the government some comfort that its new owner will not spirit the company away for tax purposes. Gerald Khoo, an analyst at investment ...