Article 6SCPS Royal Mail owner blames Labour budget for preventing return to profit

Royal Mail owner blames Labour budget for preventing return to profit

by
Rob Davies
from World news | The Guardian on (#6SCPS)

International Distribution Services' says it will take 134m hit from budget but shows improved underlying financial performance

The company that owns Royal Mail has blamed a 134m hit from Labour's first budget in 14 years for preventing a return to profit, as its underlying financial performance improved.

International Distribution Services' half-year results illustrate the difficulties it is facing during one of the most turbulent periods in the history of its 508-year-old subsidiary, the Royal Mail.

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