The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Apologies for **** spelling useless on my phone...and in general.
QoS isn't improving anytime soon.But saying that I think they are happy to pedal the same lines.They will blame local issues and then of course the government but as per last fine it still represents very good value for money.
And for a couple losing so much still ofcom not likely to hit them hard either.
Early days much not heard a sniffle from the new boss.
CEO MS did reply the select committee on her behalf over the fines for stamps and RM say the have made no profit on stamp fines.
I guess another big week coming just feels like this is going to drag on now re takeover.
Neeed = needed
I now rather expect that it was the going concern statement that held up the financials. It is the sort of thing that auditors obsess about. The Guardian article does not grasp that it is a rather technical issue. Sure, there is as normal, a change of control clause in the facility agreement which means that the facility will need to be renegotiated on acquisition or replaced but the facility is undrawn and only needed in a downside scenario. If Kretinsky buys he has the resources to provide any neeed funding.
You couldn't make it all up, I have never seen a shambles like it thankfully I sold up a £3.22...
The financials look at lot better, especially on the revenue front. The Q of S results look dire again and will no doubt result in another fine. 74.5% next day for 1c and 92.4% by day D for 2c is very poor.
It is all very bullish in the wording and they clearly have a lot going on. Daventry cleared almost a 1m parcels in one 21 hour shift. If they were to replicate that across a whole year (admittedly unlikely) that might be processing some 30% of RM domestic parcels.
One point that does not come out is letters. Letter volumes have declined 9% for the whole year.. It was 8% for the nine months to 31 December 2023 at Q3 (was 8% I think for 2022/23). Of course thes numbers imply a much bigger drop in the Q4 three months. I make it over 12% with no material rise in revenue because of price increases (£895m v £872m). I rather expect letter volumes to start going down much faster and so outweighing. the benefit in revenue from price hikes.
@ hurtsparrow.
In one breath IDS are saying accept the offer, and in the next (according to The Guardian) they are denouncing the offer.
Am i missing something here?
I wonder if IDS now think that 360p is too low.
I cannot wait to see the market reaction on Tuesday:
1 - To the results
2 - To The Guardian piece
Only highlighted it because it was the first mention of any trial date etc I've seen but yes a huge potential sum of money.
Hurtsparrow, the £50m fine is small fry compared to Whistl's claim which I believe is around £600m. RM will have to defend the claim robustly as losing the case would be a disaster for all concerned.
NOFEAR, AirForce, Dowsie, thank you for the updates on TMS (previously known as AngerSharkz). Unfortunately, I suspect that they will be back under another alias.....just like Teslo/Teslon/Teflon......
Competition law:
Royal Mail's appeal against the Competition Appeal Tribunal's judgment to uphold Ofcom's decision to fine it £50 million has now concluded. The fine and interest (c.£52 million) were paid to Ofcom on 10 August 2022.
The stay on Whistl's related damages claim has been lifted. There have been two case management conferences (in December 2023 and April 2024) at which a trial date has been set for November 2025, plus significant milestones leading to the trial. Royal Mail believes Whistl's claim is without merit and will defend it robustly.
Interestingly (maybe) although letter volumes down over 9% revenue was up 4.4% because of price increases.
NoFear got a nasty belting from TheMoneyShark ex-member
RM Loss £348 M
GLS profit £320 M
Hi Oligarch
https://www.lse.co.uk/profiles/oligarch/
It was obvious to me that the lse member account name got barred and deleted once I realised that their posts were missing.
What you need to do is placing their members name like this and hit enter:
https://www.lse.co.uk/profiles/themoneyshark/
Lots of detail to read through. But financials in line. Positive 2nd half for RM. QoS on an improving trajectory. USO message being repeated. Weekend reading to get full picture.
Its here I am just opening now.
https://www.investegate.co.uk/
Just seen the info coming through RM channels of the full year
Oli if you look at yesterday posts TMS have all gone so I presume that means he is barred
NOFEAR, "TheMoneyShark member has been barred"
How do you get access to this information?
Brendy,
where did you see that!????
Brendy "Rumour Mr Křetínský and his team in deep negotiations this afternoon."
Yes looks like the ball is in play for sure. The hiccup gave many the jitters.