Newspaper article The Journal (Newcastle, England)

Royal Mail Doesn't Deliver the Expected Result; FTSE 100

Newspaper article The Journal (Newcastle, England)

Royal Mail Doesn't Deliver the Expected Result; FTSE 100

Article excerpt

Byline: GARY WELFORD Brewin Dolphin

UK stocks rose strongly on Tuesday as a return of "risk-on" trading assisted shares in the inuential heavyweight mining sector. e FTSE 100 Index closed at 6795.3, up 66.9 points.

Despite the general direction of the market, two stocks heading in the opposite direction were Royal Mail and Croda, the speciality chemicals company.

Royal Mail Group's rst-quarter update was slightly worse than expected. e company stated that revenue for the year was likely to be lower than anticipated due to competition facing the UK Parcels business. In line with previous guidance the company expects protability to be skewed to the second half of the year due to the positive impact of Christmas and a number of one-o"costs.

Royal Mail has a number of initiatives which it expects to benet from in the second half of the year including longer opening hours on Saturdays and Sundays at their delivery depots which will help individuals receive goods from e-retailers. …

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