Did Royal Mail’s missing results go under the radar?
It might’ve slipped by all but the eagle-eyed market watchers, but, today Royal Mail owner International Distribution Services Plc (LSE:IDS) missed its own schedule for the release of its final results.
The delay in reporting comes after the company became the subject of a takeover offer, whilst could lead to the once-national mail company being owned by Daniel Kretinsky, the billionaire often referred to as “the Czech Sphinx'.
Stalling was said to be caused by auditor KPMG requesting more time to complete its work, whilst Royal Mail’s owner described it as “usual standard procedures.”
Meanwhile, in a brief statement, the postal company said it still expected to show adjusted operating profit “broadly in line” with prior guidance.
And it plans to report the numbers as soon as reasonably practicable.
In London this morning, in Royal Mail’s absence, the spotlight was on engineer Rolls-Royce, insurer Aviva and the takeover bid for Hargreaves Lansdowne.