Royal mail PLC loan to Royal Mail Group

[Bazbuz]

Ok I'm not sure where to post this as strictly speaking its not strike related, it does though in my opinion raise some questions about what goes on in the background. Screen shot taken from Angard annual report 2022.

angard.png

[seesred]

Royal Mail PLC is now IDS, so I assume this represents the subsidising of Royal Mail Group, the company we work for, out of GLS Group revenues. But accounts is a murky business, and money gets moved around for all sorts of reasons, not all of them transparent to the untrained eye.

[enskied]

We became Royal Mail PLC in 2001.

[Bazbuz]

Ok, I just don't understand why the plc would need to lend the group money. And what happens when they pay it back. 800 million plus is quite a debt.

[enskied]

We didn't become Royal Mail Group until Ricco. So who owes who? And what part of the group is actually being subsidized?

[guardianangel]

If the government want to keep letters looks like a government bail out,is this the idea all along get rid of its profits fill their pockets split the company walk away with the good bit and get the taxpayer to pay,genius,surely Rishi and his mates are one step ahead