RMCtv : Simon Thomson "Morning Team - the re-invention of Royal Mail is inflight - this morning we are issuing our half year results for 2021/22 - and I wanted you to be the first to know."

[POSTMAN]

We’ve made an impressive start – so a big thank you to everyone - you have embraced change at pace and at massive scale – but there is still much more to do together....





So good morning, team, the reinvention of royal mail is in flight, and this morning, we've issued our half year results, and provided an update on the progress we're making, our revenues are up 6.4 percent compared to the first six months last year, and we reported adjusted,operating profit of two hundred and thirty five million pounds.

This time last year, royal mail was reporting a loss so we've come a long way.

We know we still have some challenges to address in terms of our costs, but the fact we are growing is giving us the oxygen we need to win, and a big thank you to all of you, this has been an impressive start.

But there is still much more to do together.

Six months ago, I set out six key areas of focus, I said that the definition of a good year at royal mail would be delivering a great quality for our customers, making progress with our trust agenda, and our tickets to play, improving our productivity and our costs, and this is how we are doing with half the year gone.

On quality, we are ranked number one for net promoter score by customers, although it is a close race, but we know we need to do better on getting our quality of service back to where we needed to be.

On the CWU agreement, we've made good progress with us delivering more than seventeen hundred revisions, it's a massive effort as well as things like scan in scan out, a new productivity measure and importantly, a big focus on culture and better ways of working.

On the trust agenda, again, we're making good progress, with recent pulse survey scores of 70 compared to 59 earlier this year, and participation is up too, you are talking more so we can listen more and act more.

On automation, we hit 40% of parcels automated last week, so we are well on our way to hitting 50% this year on our journey to ninety percent automation.

On DILO , we have now rolled this out to all twelve hundred delivery offices and one point one million hours have been, saved and can now be used for managers to spend with their teams and customers rather than doing administration.

And on reducing our non staff costs, we are on track to deliver what we set out to do.

But looking ahead, one area I will be talking more about today is our ambition to grow our Sunday parcel deliveries and offer Sundays for all.

you will be aware that earlier this year, we introduced Sunday deliveries for some of our largest retailers, and this is growing very well, but we want to accelerate.

one of the great things about royal male is that we don't cherry pick, we go everywhere, and we want to deliver parcels everywhere every day, and that means every household in the uk and every business, whether it's small or medium or large can participate in the e commerce revolution.

Thanks to our infrastructure and our people, we are uniquely placed to do this for everyone in society.

And you know team, we love letters of royal mail and we believe there is an important role for them as part of uk social fabric, but letter volumes are down more than sixty percent since their peak in 2004/5.

So it is time to start defining what a sustainable USO for the future, I know you are very proud to be the USO provider, and so am I, and I would love to hear your thoughts on expanding our Sunday deliveries and how we can keep the universal service relevant and sustainable, given all the changes we're seeing, and we will set up a special section on workplace where you can give your feedback and your thoughts.

Finally, I know that many of you are shareholders in our business, so we'll be very interested in the dividend, in May this year, recogniSing the challenges of covid and the economic uncertainty, the board took a prudent approach to cash in the business, as you may remember, we cancel the dividend during the pandemic, now we have more insight into the unwinding of the pandemic, the board has concluded that it is now appropriate to announce a share buyback and, and special dividend alongside our interim dividend, shareholders will receive an interim dividend of 6.7 pence per share and a special dividend of around 20p per share, the twelfth of January 2022

I hope this will be welcome news to many of you.

We have enough money to invest in our business, and we will continue to invest, all we need to do is keep growing by being great for our customers, keep improving our productivity, so everyone makes an equal contribution because that is fair, and the profits generated can be reinvested to accelerate our reinvention.

Thank you all for the progress you have made so far, if you want to hear more about how we're doing, please join me on the members of the executive board for a special workplace life today, where will be answering your questions, reinvention of royal mail is in flight, it's a really impressive start, but, we do have much more to do together.

[POSTMAN]

[2yearpostie]

You go out and deliver on a Sunday Si. We will be staying in bed. As for letters down, leave the computer alone and pop your head around a delivery office door. They are not down at all.

[SpacePhoenix]

You go out and deliver on a Sunday Si. We will be staying in bed.

At some point they'll probably trigger resigns and then all they need to do is have in every 318 Sundays on a rotor.

As for letters down, leave the computer alone and pop your head around a delivery office door. They are not down at all.

If you take out bulk postings, they are down and by a fair bit. Only a couple of years ago this time of year it was common to have batches on the CSSs 20-24 boxes. Now it's probably around 14ish on a busy day when bulk postings are excluded

[TrueBlueTerrier]

and special dividend alongside our interim dividend.
shareholders will receive an interim dividend of six percent per share and a special dividend of around twenty pence per share.

That was a nice tidbit in the brief.

[TrueBlueTerrier]

At some point they'll probably trigger resigns and then all they need to do is have in every 318 Sundays on a rotor.

They can't by law. Also if they did workers can opt-out of Sunday working.


https://www.gov.uk/sunday-working

An employer who needs staff to work on Sundays must tell them in writing that they can opt out. They must do this within 2 months of the person starting work - if they don’t, only 1 month’s notice is needed to opt out.

Having to work on a Sunday depends on whether it’s mentioned in either the person’s:

employment contract
written statement of terms and conditions

A worker can’t be made to work on Sundays unless they agreed it with their employer and put it in writing (for example, changed the contract).

[rambo1]

You go out and deliver on a Sunday Si. We will be staying in bed. As for letters down, leave the computer alone and pop your head around a delivery office door. They are not down at all.

Letters down? I thought in the last report they admitted letters were on the up. Couldn't make this crap up......well he can, obviously. Sunday pkts, thats a winner in a rural area, got £90 for delivering 14 pkts the other Sunday. That's cost effective isn't it!

[rambo1]

and special dividend alongside our interim dividend.
shareholders will receive an interim dividend of six percent per share and a special dividend of around twenty pence per share.

That was a nice tidbit in the brief.

Thats actually wrong. Interim div of 6pence , special of 20p in total about 6% (down from that now as SP has risen).

[rambo1]

Unbelievable he hasn't even got that right!!! Numpty.

[POSTMAN]

It was the speech to text, I have tidied it up now with the correct figures.

and special dividend alongside our interim dividend, shareholders will receive an interim dividend of 6.7 pence per share and a special dividend of around 20p per share, the twelfth of January 2022

Oh and 9 buts!

[POSTMAN]

“But” is used as a qualifier, meaning basically that although the speaker believes the content of their statement, they are qualifying their statement - allowing “wiggle room” - and are willing to entertain an alternate perspective; that they could either be wrong or there is more than one way to look at something.

People who use it too often are more often expressing opinions rather than facts, the latter of which is less expected to be challenged, the former moreso, and are perhaps either feeling insecure in their convictions, or simply overly-politely offering opportunities for rebuttal.

[scoobydo79]

Unless You have Italian parents Simon stop the hand gestures. It’s as irritating as F - -.

[theotherone]

User
With half yearly results expected to be high and profits up, is it only right that as that has been created by the hard work of the frontline staff, that they are awarded with a bumper pay rise in April ?


Simon Thompson
Christopher Sheldon I am sure that will be taken into account - but we have much more to do together - as a for instance - the National Insurance increase next year will be a tens of million headwind (extra cost) that will need to be paid for - we will talk more about this later in the week…

[POSTMAN]

It's but but but all the fricken time with him.

[fb1969]

Three cheers for Covid from the RM board!