“We have grounds for optimism,” said Keith Williams, chair of Royal Mail’s parent company, adopting a tone that hasn’t been heard from the boardroom in a while. What’s more, you can see what he means. While a full-year “adjusted” operating loss of £419m at Royal Mail is nobody’s idea of a comfortable outcome, the number was no worse than advertised in January, which is something.
Meanwhile, after a year of strife and strikes, a deal on pay and working practices has been agreed with the leadership of the Communication Workers Union. The union’s members have yet to vote on the proposal – and some on social media sound less than enthused – but one assumes it will get over the line. The looming exit of the unpopular Royal Mail boss, Simon Thompson, may even be good for a few votes.
