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@ Oli G.
"""""But the industrial relation situation remains uncertain, and we cannot promise that there won't be industrial action in the future."""""
That tells me everything I need to know about Mr Back.
I Spy
And this
" Our transformation is behind schedule. We are investing more because of the industrial relations environment, the General Election and Christmas, to underpin our Quality of Service at this key time. This is likely to impact our productivity for the remainder of the year. When combined, revenue and cost headwinds could possibly result in a break-even or loss-making position for the UK business in 2020-21.”
,
Perhaps a knee jerk reaction to this statement from Rico yesterday?
"Looking ahead to the second half of the year whilst we will benefit from the upcoming general election, from Christmas trading and from continued growth in parcels. We are also facing some headwinds. As a result of business uncertainty and lower than GDP growth, we expect adverse latter volumes, excluding the election, declined by 8% in the first half of the year.
We are now guiding to decline of 7% to 9% for the full year and 6.8% for next year. And of course, we face an uncertain industrial relation environment. We told you in May that we need to change. Our people recognize the need for change, but change is always difficult. We are pleased to have been able to take action to secure mail service during the general election and protect Christmas deliveries for the U.K. public and for our customers. But the industrial relation situation remains uncertain, and we cannot promise that there won't be industrial action in the future."
This may have led some investors to panic?
Plus the usual stuff such as Brexit and the upcoming General Election thrown into the mix.
I think that the SP will rise to around £2.50ish by Easter 2020.
Transcript from yesterday's presentation -
https://finance.yahoo.com/news/edited-transcript-rmg-l-earnings-232855274.html
Yesterday was an overreaction...
Views?