Royal Mail Group (LON:RMG) stepped into a row between campaigners and Walkers as it urged people to stop putting crisp packets in postboxes without envelopes, the BBC has reported. The privatised postal operator is obliged by law to deliver the bags to Walkers’ freepost address.
Royal Mail’s share price has climbed higher in today’s session, having gained 0.71 percent to 480.80p as of 14:51 BST, outperforming the broader London market, with the benchmark FTSE 100 index having slipped marginally into the red and currently standing 0.08 percent lower at 7,501.85 points. The group’s shares have added just under a quarter to their value over the past year, as compared with a near three-percent rise in the Footsie.
Royal Mail steps into row
The BBC reported today that Royal Mail had urged people posting empty packets to put them in envelopes for fears of delays. The move comes with campaigners having asked people to post the non-recyclable plastic bags and “flood Walkers social media with pictures of us popping them in the post”.
“We strongly encourage customers not to post anything into the postal system which is not properly packaged,” a spokesperson for the privatised postal operator said, as quoted by the newswire. “Crisp packets can’t go through the machines, they are not normal mail items therefore my hardworking colleagues need to manually sort them, which adds to time.”
Royal Mail said it had handled about 30 crisp packets so far.
Analysts on FTSE 100 group
The 16 analysts offering 12-month price targets for Royal Mail for the Financial Times have a median target of 500.00p on the shares, with a high estimate of 630.00p and a low estimate of 400.00p. As of September 21, the consensus forecast amongst 17 polled investment analysts covering the blue-chip group advises investors to hold their position in the company.