January 29, 2019 / 8:50 AM / 9 months ago

BUZZ-Royal Mail: Record low after cutting forecasts

Jan 29 (Reuters) - ** Shares of Royal Mail slump as much as 18 pct to an all-time low

** Co cuts upper-end of FY profit view, flags further decline in letter volumes

** Says General Logistics Systems business to take a hit as co focuses on conserving margins

** “There is little here to assuage bears of this stock, and the situation could compound as the likes of Amazon and Deutsche Post continue to encroach as Royal Mail seeks to get its own house in order” - Richard Hunter, head of markets at Interactive Investor

** Liberum analysts say 2019-2020 consensus at risk

** RMG stock shed 40 pct of its value in 2018 (Reporting by Shashwat Awasthi in Bengaluru)

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