Profit rise to pave way for Royal Mail float
Royal Mail boss Moya Greene is ready to deliver on plans for the most high-profile privatisation since the railways nearly 20 years ago.
Separate reports over the weekend suggested that Royal Mail will unveil a surge in its half-year profits tomorrow, a key proviso of a flotation in the third quarter of next year, and that the Government is ready to start talking to potential City investors.
A London Stock Exchange listing could value Royal Mail at as much as £4bn, meaning it would immediately gatecrash the FTSE 100 index of the country's biggest companies.
Despite sales of £9.5bn, Royal Mail has often struggled to make a profit, particularly in its core Parcels, International, Letters division.
However, Ms Greene, right, has slashed jobs and has made sure that Amazon became Royal Mail's biggest client as part of a root-and-branch restructuring that the Canadian has undertaken since joining Royal Mail two years ago.
Ministers are said to have approved a roadshow of major investment firms in the new year. The Government has also made a commitment to letting employees buy shares as well as making them easily available to the public.
UBS and Barclays are advising the Government and Royal Mail respectively.
Postal unions are set against privatisation, though the Post Office would not be part of the flotation.
Apple has been hit by complaints about the 1.1GB download
Liam Neeson's Downton dreams
Thriller is set in the secret world of British espionage
Bomber jacket worn by Mary Berry sells out within an hour
Matt Smith is set to join cast of the Jane Austen classic - with a twist
Much-loved cartoon character returns - without Sir David Jason
Actress to appear in second series of the hugely popular crime drama
- 1 Thailand beach murders: Thai PM suggests 'attractive' female tourists cannot expect to be safe wearing bikinis
- 2 Scottish independence: Five reasons Salmond is secretly hoping for a 'No' vote
- 3 Isis plan to 'behead random member of the public' in Sydney thwarted by Australian police
- 4 Scottish independence: Andy Murray backs Yes campaign in eleventh hour decision
- 5 Have you heard about the film Singapore has banned its people from watching? Well, you have now
Thailand beach murders: Thai PM suggests 'attractive' female tourists cannot expect to be safe wearing bikinis
Scottish independence referendum live: Latest news as Scotland decides Yes or No
Scottish independence: Final opinion polls show undecided voters could swing result either way
Scottish independence: Almost half of No voters have felt 'personally threatened' by the Yes campaign
Isis plan to 'behead random member of the public' in Sydney thwarted by Australian police
iJobs Money & Business
£70-90,000: Saxton Leigh: Our client a London Market Insurer are seeking a Pro...
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...