Heard a rumour that Amazon may be interested in buying us!!

[disheartened]

who would wanna buy us anyway??? we are losing money everyday& have a 9 billion pension debt!! we need mancitys owners to get us out of the s**t management have created!

We are actually in profit to the tune of £500M per year and if we were sold the government said they would pay the pension.

Are we!!!!!! and would they??????

[Spedley]

Reports ye2010

Performance Highlights
• Despite very difficult trading conditions in the year leading to falling revenues, the Group increased its operating profit from £321m
to £404m, an improvement of £83m (26%)
• The Royal Mail Letters business, Post Office Limited and Parcelforce Worldwide all saw their profits grow year on year
• Group external revenue fell by £211m, from £9,560m in 2009 to £9,349m in 2010, the first time in a decade that revenue was
lower than the previous year. The underlying decrease excluding exchange rate movements was even greater at £298m
• Royal Mail Letters revenue fell by £143m as tariff increases were not enough to offset volume decline of 7.3%, losses to
competition and customers switching to lower priced products
• Post Office Limited saw revenue fall by £70m year on year, as income from Government Services fell heavily and the recession
impacted revenues from Financial Services products
• Modernisation through a combination of investment and the efforts of the Group’s people in embracing changing working practices,
is enabling efficiencies to offset declining revenues
• Across the Group, total costs excluding the adverse impact of exchange rate movements fell by £381m (4.1%), reflecting
modernisation efficiencies realising a headcount reduction of around 8,000
• Investment in the business has allowed gross hours to fall by over 5% in the Letters operation as levels of automatic sorting have
rapidly increased, 150 new and upgraded machines have been deployed in the year and 12 mail centres piloted the introduction of
world class processing
• Despite operating profit growth, profit before financing and taxation fell by £65m year on year as Government grant income
received by Post Office Limited ended in 2009, and restructuring costs increased
• The accounting pension deficit has increased from £6.8bn in 2009 to £8.0bn in 2010, driven by changes in market conditions
giving rise to higher projected liabilities. Cash payments of £867m were made in the year to fund pensions
• A cash inflow of £1,082m was generated by earnings before interest, tax, depreciation, amortisation and pensions** reflecting a
strong operating performance in a tough climate
• However, the net trading cash outflow of £517m reflects the Company’s level of commitment to continue modernising operations
whilst fulfilling the Group’s most significant ongoing cash obligation, pension funding

bbc pension story

The key government proposals, published earlier, include:
Inviting private firms to form partnerships with Royal Mail, including taking up to a 30% stake in its parcels and letters business
Transferring responsibility for the pension fund, with its £6bn deficit, to taxpayers
Transferring regulation of the service from Postcomm to Ofcom
A new fund to protect the universal postal service, which may be at risk from private competition in the future
Excluding the post office network from the changes

[disheartened]

Cheers mate,i'll need to enlarge that some what!!!!!!!! then i'll have a read of it...........

[Dorset Plodder]

You'd better pull your rip cord there disheartened I think Spedley shot you down big time.

Personally I don't care who buys us out provided they pay my wages. Terms and Conditions are going to be a different story, do they really think someone is going buy us and then risk another series of strikes by taking the piss? I believe even the most dis-interested of posties might manage to motivate themselves to stick up for themselves. After all we're all going to be shafted together, no us & them!

If Tesco's buy us I'm going to refuse to deliver some lazy gits shopping along with their mail! Never minded the old folk and disabled people getting their groceries delivered but it seems most of them are Able- Bodied (?), just can't be arsed to drag themselves down to the local superstore.

[TrueBlueTerrier]

If Tesco's buy us I'm going to refuse to deliver some lazy gits shopping along with their mail! Never minded the old folk and disabled people getting their groceries delivered but it seems most of them are Able- Bodied (?), just can't be arsed to drag themselves down to the local superstore.

[Dorset Plodder]

I forgive you TBT as you're obviously a Hard Working Postie that doesn't have enough time to pop down the Superstore, as you're covering a duty that's been lapsed and booking overtime for protracted Delivery.

[TrueBlueTerrier]

I forgive you TBT as you're obviously a Hard Working Postie that doesn't have enough time to pop down the Superstore, as you're covering a duty that's been lapsed and booking overtime for protracted Delivery.

Ta

[Big Daz]

Royal Mail Letters revenue fell by £143m as tariff increases were not enough to offset volume decline of 7.3%, losses to
competition and customers switching to lower priced products

[Big Daz]

ftp://ftp.royalmail.com/Downloads/publi ... 010_11.pdf" onclick="window.open(this.href);return false;

Gives a more up to date picture than using last years full year results.

[POSTMAN]

John Lewis staff?