Britain’s Royal Mail posts losses of 419 mln pounds

May 18 (Reuters) – Britain’s Royal Mail posted an annual adjusted operating loss of 419 million pounds ($528.82 million), ahead of market expectations, its parent International Distributions Services IDSI.L said on Thursday, after a year marred by postal strikes over pay.

IDS, which includes Royal Mail UK and international operations GLS, reported a group adjusted operating loss of 71 million pounds for the year ended March 26, compared with a profit of 758 million pounds a year earlier.

Analysts on average had expected a loss of 114 million pounds, according to a company-compiled consensus.

($1 = 0.7923 pounds)