Royal Mail faces an extra £120 million in costs due to increased National Insurance contributions. This rise will significantly impact its operations, given its large workforce.
The company announced it will write down the value of Royal Mail by £134 million, now reflecting £1.91 billion, in light of the increased tax burden and financial strain.
Despite a reported loss of £138 million, Royal Mail showed a revenue increase of 11% to £3.92 billion, attributed to the postal activity surge from the July election.
Royal Mail is under uncertainty as a £3.6 billion takeover by Daniel Křetínský is met with a 'national interest' review, necessitating worker governance involvement.
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