Royal Mail is on course for a dramatic change in its fortunes, with profits for the year to March 31 soaring to nearly £200 million. The £800 million turnround – last year it lost £611 million – will automatically trigger bonuses for the 200,000 workers. The key to the recovery has been better relations with the unions. Last month both sides signed a pay-and-conditions agreement that has allowed a redundancy programme to go ahead smoothly.
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