Shares in business services group Hays have plunged to a seven-year low after a shock profits warning.
The company blamed pressure in the business post market from Allan Leighton’s revamped Royal Mail.
The shares collapsed by 203/4p to 893/4p. New chief executive Colin Matthews arrives today, facing the possibility that Hays, whose market value has dived to £1.5bn, will be kicked out of the elite FTSE 100 index.
Read MoreIkea, home furnishings retailer has awarded the specialist furniture division of Hammond Logistics a contrct to install business furniture for its customers.
Read MoreArgos has chosed UPS Logistics UK to manage 5 additional storage warehouses before Christmas and into the new year, the busiest perios in the retailers calendar.
Read MoreAllan Leighton, chairman of Consignia, has quashed spec ulation that the next chief executive of the mail operator would come from Asda, the food and clothing retailer, saying it “would not be professional” to poach staff from the company he once ran.
The company also disclosed yesterday that the Consignia name would be consigned to history on Monday to adopt the more familiar tag of Royal Mail Group.
Mr Leighton said he was considering a shortlist of six to fill the post of John Roberts, who will leave at the end of the year.
Read MoreThe Australian public may soon have a ombudsman to hear complaints about the $8 billion postal industry.
The position is likely to be modelled on that of the successful telecommunications ombudsman.
It would have wide powers to investigate complaints and order compensation for poor service by Australia Post and private delivery companies.
The ombudsman would cover all providers of postal and similar services, including Australia Post, courier companies, direct mail houses, document exchange operators and related businesses, according to a Federal Government discussion paper released yesterday.
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