City news: Royal Mail, Co-op, Majestic Wine and Ted Baker

City news: Royal Mail, Co-op, Majestic Wine and Ted Baker
 

The company is ramping up its efficiency drive to avoid £600million in annualised costs over three years to 2018 compared with a previous £500million target, after posting a 5 per cent drop in half-year operating profit to £320million.
Revenue was up 1 per cent to £4.58billion. Letter volumes were down 4 per cent, while parcel volumes rose 2 per cent.
Marketing mail revenue dropped by 8 per cent. Royal Mail said: “We have already seen some impact of the softer economic conditions on our marketing mail revenue.”
Shares fell 35p to 464p.... read more

 
18 November 2016 in Business, Views: 71
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