I am interested to hear any opinions about the proposed Royal Mail floatation. Will it remain a croc and sink or will it open at a premium and fly?

similar slump this time last year below £4, they hit £6 six months later plus a juicy div.

Trading stock

Buy Buy Buy!!!

Bonfield.

Royal Mail reported revenue up 1% but a 25% decline in operating profits for the first half of the year. Chief executive Rico Back said a range of actions had been put in place to improve performance and confirmed the board's commitment to cut £100m of costs and generate adjusted group operating profit before transformation costs of £500-550m for the financial year.

Royal Mail tightened up its full-year profit guidance after what it said was a busy Christmas period. The letters and parcels group now expects to deliver adjusted group operating profit before transformation costs of £500-530m, from the £500-550m previously indicated.