International Distributions Services (IDS)

Sector:

Commercial Transport

Index:

FTSE 250

281.00p
   
  • Change Today:
      5.60p
  • 52 Week High: 286.60
  • 52 Week Low: 196.15
  • Currency: UK Pounds
  • Shares Issued: 958.29m
  • Volume: 4,386,684
  • Market Cap: £2,692.80m
  • RiskGrade: 103

Royal Mail warned to stop blaming Covid for late deliveries

By Frank Prenesti

Date: Friday 02 Dec 2022

LONDON (ShareCast) - (Sharecast News) - British letter and parcel carrier Royal Mail has told to stop blaming the Covid pandemic for late deliveries after missing performance targets.
An investigation by industry regulator Ofcom found that just 82% of first class mail was delivered within one working day in the year to March 31, well below a target of 93%.

Ofcom said 94.29% of delivery routes were completed each day a delivery was required - against the target of 99.9%.

The regulator accepted that Covid continued to have a "significant, pervasive and unprecedented" impact on Royal Mail's operations, as staff were off sick with the virus and parcel volumes soared as locked-down Britons switched to online shopping.

"But we do not expect Covid-19 to have a continuing, significant impact on the company's service levels," it warned.

"Social distancing measures are no longer in place, absence levels are likely to be much less unpredictable and parcel volumes have largely returned to pre-pandemic trends.

"We are concerned by the fact that Royal Mail's performance in the early part of 2022/23 fell well short of where it should be.

"We believe the company has had plenty of time to learn lessons from the pandemic and we are unlikely to consider the factors outlined above as exceptional and beyond its control in future."

Royal Mail, owned by International Distributions Services, long-running dispute with the Communication Workers Union over pay, jobs and conditions which has led to a series of strikes, with more walkouts planned in the busy run up to Christmas.

Reporting by Frank Prenesti for Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IDS Market Data

Currency UK Pounds
Share Price 281.00p
Change Today 5.60p
% Change 2.03 %
52 Week High 286.60
52 Week Low 196.15
Volume 4,386,684
Shares Issued 958.29m
Market Cap £2,692.80m
RiskGrade 103

IDS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.90% above the market average69.90% above the market average69.90% above the market average69.90% above the market average69.90% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Price Trend
36.28% above the market average36.28% above the market average36.28% above the market average36.28% above the market average36.28% above the market average
6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average
Income Not Available
Growth
71.37% below the market average71.37% below the market average71.37% below the market average71.37% below the market average71.37% below the market average
46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 4
Sell 0
Strong Sell 1
Total 8
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IDS Dividends

  Latest Previous
  Final Special
Ex-Div 28-Jul-22 02-Dec-21
Paid 06-Sep-22 12-Jan-22
Amount 13.30p 20.00p

Trades for 23-Apr-2024

Time Volume / Share Price
14:43 600 @ 281.02p
14:42 1,101 @ 280.80p
14:41 671 @ 281.00p
14:41 131 @ 281.00p
14:41 47 @ 281.00p

IDS Key Personnel

CEO Martin Seidenberg
CFO Michael Frederick Snape

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