The payrise is £10.40 a week gross. Not sure it will make much of a difference to any of us.
I’ll have yours then!
My mortgage has gone up by 35% council tax up by 5% a £7 a week pay rise isn’t really making a dent into that.
It would help if we weren’t competing against the gig economy and companies that have never made a profit.
I sympathise. The rising cost of living is ridiculous. The problem is we are one of those companies not making a profit. Or at least we weren’t the last tax year. We would all like an inflation busting rise but where is that money coming from realistically?
We did made a profit in the last tax year. Profits were marginally down on the previous year but we still made a profit.
The payrise is £10.40 a week gross. Not sure it will make much of a difference to any of us.
I’ll have yours then!
My mortgage has gone up by 35% council tax up by 5% a £7 a week pay rise isn’t really making a dent into that.
It would help if we weren’t competing against the gig economy and companies that have never made a profit.
I sympathise. The rising cost of living is ridiculous. The problem is we are one of those companies not making a profit. Or at least we weren’t the last tax year. We would all like an inflation busting rise but where is that money coming from realistically?
We did made a profit in the last tax year. Profits were marginally down on the previous year but we still made a profit.
If we were profitable the share price wouldn’t be in the shitter.
Can’t read that article because I am not a subscriber but I don’t need to anyway. Royal Mail made a profit in its last tax year. When losses are referred to in the article - as much as I could read - they are talking about a reduction in profits compared to the Covid years. They describe that as a loss but RM remained in profit - £750m or so.
’You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.’
A quick google tells me Royal Mail made a loss of 419 million pound last year (22/23). IDS as a group only lost 71 million pound because of the profit made by GLS.
A quick google tells me Royal Mail made a loss of 419 million pound last year (22/23). IDS as a group only lost 71 million pound because of the profit made by GLS.
You’re not looking at the right numbers. If you think about it it’s obvious that if RM made zero profit and a loss of 400m, there would be mass job losses and the begging bowl would be in the government’s lap.
’You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.’
A quick google tells me Royal Mail made a loss of 419 million pound last year (22/23). IDS as a group only lost 71 million pound because of the profit made by GLS.
You’re not looking at the right numbers. If you think about it it’s obvious that if RM made zero profit and a loss of 400m, there would be mass job losses and the begging bowl would be in the government’s lap.
You realise we operate as part of a larger group right? Our losses are being absorbed by other entities in the group making money. Hence IDS want rid of its biggest loss maker i.e. us.
A quick google tells me Royal Mail made a loss of 419 million pound last year (22/23). IDS as a group only lost 71 million pound because of the profit made by GLS.
You’re not looking at the right numbers. If you think about it it’s obvious that if RM made zero profit and a loss of 400m, there would be mass job losses and the begging bowl would be in the government’s lap.
You realise we operate as part of a larger group right? Our losses are being absorbed by other entities in the group making money. Hence IDS want rid of its biggest loss maker i.e. us.
Whichever way you want to look at the accounts, RM is not running at a loss. It’s pretty much back where it was prepandemic. There are all kinds of different ways of presenting the figures depending on the audience. Shareholders see one thing, group as a whole another. But it doesn’t change the fact that RM makes a profit. You don’t have to believe me.
’You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.’
Perhaps then you could post the correct figures to back up your assertions?
I read the most recent financial report. It’s exciting stuff. I can’t find it online but £470m ish was the number of significance. There are various other financial reports viewable online and they all show different figures, different divisions of what is what but absolutely none of them show RM in the red. Royal Mail makes a profit. It doesn’t make as much profit as its owners would like, but it does make a profit.
So I apologise for being unable to provide the exact number but that is because the number is different wherever you look.
’You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.’
Perhaps then you could post the correct figures to back up your assertions?
Nine months to 31 December 2023 and outlook
● Group revenues have performed well in a difficult macroeconomic environment, increasing by 3.8% with greater volumes in both Royal Mail and GLS.
● This has however been offset by increased costs, including pay increases and inflationary pressures.
● We are expecting a second-half operating profit, on an adjusted basis, to broadly offset the £169 million operating loss in the first half, so our guidance for the full year remains at about breakeven excluding voluntary redundancy costs.
Perhaps then you could post the correct figures to back up your assertions?
Nine months to 31 December 2023 and outlook
● Group revenues have performed well in a difficult macroeconomic environment, increasing by 3.8% with greater volumes in both Royal Mail and GLS.
● This has however been offset by increased costs, including pay increases and inflationary pressures.
● We are expecting a second-half operating profit, on an adjusted basis, to broadly offset the £169 million operating loss in the first half, so our guidance for the full year remains at about breakeven excluding voluntary redundancy costs.
The pay increase is s**t. We are dropping into the Gig economy. ASDA warehouse have had a 20.3% pay increase over the last 3 years.
They are now on £28,204 before allowances.
Voluntary redundancy my arse. Imagine if they had to pay 2 years?
Royal Mail is an embarrassment. Thank God for me, the light is getting brighter in the Gig economy tunnel.
Perhaps then you could post the correct figures to back up your assertions?
Nine months to 31 December 2023 and outlook
● Group revenues have performed well in a difficult macroeconomic environment, increasing by 3.8% with greater volumes in both Royal Mail and GLS.
● This has however been offset by increased costs, including pay increases and inflationary pressures.
● We are expecting a second-half operating profit, on an adjusted basis, to broadly offset the £169 million operating loss in the first half, so our guidance for the full year remains at about breakeven excluding voluntary redundancy costs.
The pay increase is s**t. We are dropping into the Gig economy. ASDA warehouse have had a 20.3% pay increase over the last 3 years.
They are now on £28,204 before allowances.
Voluntary redundancy my arse. Imagine if they had to pay 2 years?
Royal Mail is an embarrassment. Thank God for me, the light is getting brighter in the Gig economy tunnel.
Wonder how much they spent on those massive super hubs? The cost to build those is buried in the numbers somewhere.
’You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.’
A quick google tells me Royal Mail made a loss of 419 million pound last year (22/23). IDS as a group only lost 71 million pound because of the profit made by GLS.
You’re not looking at the right numbers. If you think about it it’s obvious that if RM made zero profit and a loss of 400m, there would be mass job losses and the begging bowl would be in the government’s lap.
You realise we operate as part of a larger group right? Our losses are being absorbed by other entities in the group making money. Hence IDS want rid of its biggest loss maker i.e. us.
Whichever way you want to look at the accounts, RM is not running at a loss. It’s pretty much back where it was prepandemic. There are all kinds of different ways of presenting the figures depending on the audience. Shareholders see one thing, group as a whole another. But it doesn’t change the fact that RM makes a profit. You don’t have to believe me.
A quick google tells me Royal Mail made a loss of 419 million pound last year (22/23). IDS as a group only lost 71 million pound because of the profit made by GLS.
You’re not looking at the right numbers. If you think about it it’s obvious that if RM made zero profit and a loss of 400m, there would be mass job losses and the begging bowl would be in the government’s lap.
You realise we operate as part of a larger group right? Our losses are being absorbed by other entities in the group making money. Hence IDS want rid of its biggest loss maker i.e. us.
Whichever way you want to look at the accounts, RM is not running at a loss. It’s pretty much back where it was prepandemic. There are all kinds of different ways of presenting the figures depending on the audience. Shareholders see one thing, group as a whole another. But it doesn’t change the fact that RM makes a profit. You don’t have to believe me.
That’s good because I don’t.
That’s okay. Company accounts aren’t for everyone.
’You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new.’
If you walk through both hubs, you wouldn't believe you were walking through a warehouse in England. This is the gig economy.
The s**t that is coming out of those two is unbelievable.
North West are now having built on bay 7, trailer to machine without any human input, apart from pressing a button. 8 mins compared to up to 3 hours. I've been told that's worth 8 peoples jobs, and that's just one bay.
I'm at the front of it, and the new contract's from business customers Royal Mail are getting is increasing. We've even got passports back after how many year's?
Accountants can do miracles.
Last edited by sweepster70 on 13 Mar 2024, 23:04, edited 3 times in total.