Royal Mail Half Year Results announcement

[fallenworld2022]

makes u angry listening to the cwu saying we are going to win this dispute all that nonsense, and listening to them slagging off the management laughing their heads off, only people that are laughing are royal mail management, we have been completely shat on by our union having us out losing money for nothing, taking it as some sort of joke and underestimating royal mail, the jokes on us, i would like to know what we have won union???

[wandle]

Parcelforce is the trading name for GLS in the U.K., is it not?
So if ST plans to push more and more Royal Mail parcels through the Parcelforce network, how will that impact a potential separation of GLS and spinning it off into a standalone company, with a (presumably) independent listing on the Stock Market?
RM would basically be paying Parcelforce to do final-mile deliveries? In effect, making us a downstream-access user of GLS’s UK operation?

[77SAMPOST77]

Parcelforce is the trading name for GLS in the U.K., is it not?
So if ST plans to push more and more Royal Mail parcels through the Parcelforce network, how will that impact a potential separation of GLS and spinning it off into a standalone company, with a (presumably) independent listing on the Stock Market?
RM would basically be paying Parcelforce to do final-mile deliveries? In effect, making us a downstream-access user of GLS’s UK operation?

INCORRECT Parcelforce is not GLS .

[Binsey]

Parcelforce is the trading name for GLS in the U.K., is it not?
So if ST plans to push more and more Royal Mail parcels through the Parcelforce network, how will that impact a potential separation of GLS and spinning it off into a standalone company, with a (presumably) independent listing on the Stock Market?
RM would basically be paying Parcelforce to do final-mile deliveries? In effect, making us a downstream-access user of GLS’s UK operation?

INCORRECT Parcelforce is not GLS .

They have GLS on there vans.

[77SAMPOST77]

Parcelforce is the trading name for GLS in the U.K., is it not?
So if ST plans to push more and more Royal Mail parcels through the Parcelforce network, how will that impact a potential separation of GLS and spinning it off into a standalone company, with a (presumably) independent listing on the Stock Market?
RM would basically be paying Parcelforce to do final-mile deliveries? In effect, making us a downstream-access user of GLS’s UK operation?

INCORRECT Parcelforce is not GLS .

They have GLS on there vans.

Yes because we are a trading partner , we deliver there parcels but are a separate company .

[SpacePhoenix]

All the profitable bits will be moved into the new network (set up at massive cost on Royal Mails books, rather than the books of GLS or Parcelforce), delivered by cheaper owner/drivers operating via the new super hubs and parcel depots. Expect to see all the RM Tracked traffic to go via this network for example, along with pretty much all the profitable business traffic.

Think that all SDs would certainly move over to PF in that scenario

Strip it out completely into Parcelforce, then just leave Royal Mail with the debt of setting up the logistics - maybe even toss in that RM now has to pay Parcelforce to sort its traffic in these new super hubs for some extra profit, since they'll have closed all the mail centres and Royal Mail can't even operate on its own anymore.

Impossible for RM to close all the MCs without axing all letter and flat deliveries

[britwrit]

According to the statement, they' ve taken on over £900 million more in debt during the last year.

Factor in the £80 million adjusted net loss, you have to wonder where all the rest went.

Edit - If GLS needs another company to deliver its stuff here in the Uk, that lowers its value. Basically you're buying its customer base... and they can always go elsewhere.

[POSTMAN]

Presentation added to 1st post.

[pieoftheday]

Do these half year results include the logistics companies they bought in the U.S and Canada since 2018,,?

[CamPostie]

CWU need to get there best accountants to go through these statements!

• The Ofcom fine of £50 million is in there. It was paid in September!

• Where is the cost of the £900 million Superhubs in this reporting period?

• Net debt tripled over the period - how?!?

• The uniform rollout is given a brief mention as a reason for increased costs - so how much was the contract and was it predominantly front loaded?

• Same needs to be asked on vans - how many were purchased and what was the upfront cost of doing so?

• The statements also highlight RM will be receiving £66 million from Taylor Wimpey as part of the Mount Pleasant sale next year (2023/24). Zero was received during this reporting period.

[Scotland1990]

I think the only solution for Cwu is an all out walk out until a much better offer is made. I know none of us can afford it but we also can’t afford what Simon Thomson plans more.

[norris9]

Looks nailed on the USO will be reduced to 5 days very soon. How many more job losses will that lead to on top of the 10,000 already announced.

More medium and large parcels going from Royal Mail to parcelforce to be delivered by owner drivers. Depending on the sort of volumes they are talking about again that reduction in work could lead to further job losses.

With the reduction in EVR terms and the number of job losses we could be looking at could well be looking at quite substantial compulsory redundancies.

I think Andy Furey said a 5 day letter service would mean 4,000 job losses. Which is less than I thought it might be. Royal Mail are employing 11,000 agency staff right now, so they are at least 11,000 understaffed as it is.

One positive I can think of is that if all this crap gets forced through and whoever wishes to tolerate the changes - it's possible you'd just be delivering letters - the good thing about that is you can't go wrong with letters. Parcels are a massive problem in terms of delivering them, they slow you down - writing out dockets, you get a rollicking if you miss a scan, deliver late, doorstep, or it goes missing.

At least delivering just letters and maybe small untracked parcels will be easy....until some manager is whipping you telling you to clear 3 rounds in your time otherwise you will get a caning.