It’s been a week the Royal Family will want to forget – specifically the Royal Mail. Despite CEO Rico Black unveiling operating profits of £3-400mill in line with market expectations, his pessimistic outlook in terms of transformation progress, stiff competition and less letters being sent. It’s been a turbulent November for Royal Mail with first stopping the CWU strike and then getting fined £50 mill for unfair practices against Whistl/TNT in 2014.
All eyes on what happens next with cult favourite operator Eddie Stobart. A General Meeting is scheduled for December 6th to consider DBAY’s £55 million bid for a 51% stake. This takeover will see the return of William Stobart to the company as Executive Chairman. Observers wait with baited breath to see if Wincanton may have something to say on this development. Also waiting in the wings is former Chief Executive, Andrew Tinkler with his consortium of M&G and Ruffer.