Royal Mail has admitted that they are going through a tough time as their profit dipped to 30pc amidst a dispute with their workers over pensions. Although their revenue has increased, their pre-tax profits has decreased due to the increase in their pension costs. The company has faced stiff opposition from their workers as Royal Mail is on process of moving them to a new benefit scheme. The company admitted that it is a “difficult time” for the company. They are committed in resolving the issues with the Communication Workers Union while balancing the interests of all their stakeholders. Royal Mail had had “a good start to the year,” according to chief executive Moya Green. Parcel volumes have increased to 6pc and a “resilient” performance in letters, revenues from which fell 3pc on an underlying basis. Source: http://www.telegraph.co.uk/business...its-having-difficult-time-profits-slump-30pc/
