Royal Mail share price: Group under fire over D-Day stamp blunder

Postal operator withdraws commemorative stamp

Royal Mail share price: Group under fire over D-Day stamp blunder

Royal Mail Group (LON:RMG) has come under fire over a stamp design marking the 75th anniversary of D-Day, after it emerged that it showed US troops landing in what was Dutch New Guinea, the BBC has reported. The privatised postal operator has apologised for the blunder.

Royal Mail’s share price fell in the last trading day of 2018, giving up 2.58 percent to close at 272.10p. The shares lost just under 40 percent of their value last year, following a shock profit warning in October, which sent the stock crashing and eventually resulted in the postal operator’s demotion from the benchmark FTSE 100 index.

D-Day stamp blunder

The BBC reported last week that Royal Mail had withdrawn a stamp design marking the 75th anniversary of D-Day after it emerged that it in fact showed US troops landing in what was Dutch New Guinea. The newswire quoted Paul Woodadge, a D-Day historian and former tour guide living in Normandy, who is originally from Essex, as commenting that it was ‘quite shocking, really’.

The BBC also quoted a Royal Mail spokeswoman as saying that the postal operator “would like to offer our sincere apologies that our preview release for our 2019 Special Stamp programme included a stamp design which had been incorrectly associated with the D-Day landings”.

“We can confirm that this image will not be part of the final set, which will be issued in June 2019,” the spokeswoman added.

Analysts on Royal Mail

The 17 analysts offering 12-month price targets for Royal Mail for the Financial Times have a median target of 325.00p on the shares, with a high estimate of 410.00p and a low estimate of 250.00p. As of December 29, the consensus forecast amongst 18 polled investment analysts covering the mid-cap group has it that the company will underperform the market.

As of 08:17 GMT, Wednesday, 02 January, Royal Mail share price is 272.10p.

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