The company told the City it would not be able to meet profits targets, saying levels would likely fall 10%-15% below the 拢222m it had forecast for the full year.
The Royal Mail Group, which today changed its name from Consignia, has been promoting its Special Delivery service -- a move that Hays blamed for the downturn of its own mail profits. It has also been hit in its other business, including logistics and personnel.
New chief executive Colin Matthews joined the company on Friday, filling the chief executive role that had been vacant for 15 months following the departure of John Cole. Cole resigned after Hays issued a profits warning in June 2001.
Meanwhile, Allan Leighton, chairman of the Royal Mail Group, has denied that the next chief executive of the postal operator would be poached from his former employer, Asda.
Reports say that Leighton is considering a list of six potential replacements for John Roberts, who leaves at the end of the year.
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