ROYAL MAIL PROFITS FALL BY A THIRD ....

[donut]

http://express.lineone.net/posts/view/4 ... all-by-30-

[TrueBlueTerrier]

http://express.lineone.net/posts/view/4 ... all-by-30-

The Royal Mail's profits have fallen by almost a third to £162 million, the lowest figure for five years.

The letters business recorded a loss of £3 million because of a sharp decline in mail volumes as well as the impact of competition in the postal industry. It was the first loss of its kind for a number of years.

The universal postal service under which letters are delivered anywhere in the UK for the same price lost £100 million according to the figures for the 2007/8 financial year.

The overall price controlled area of Royal Mail's business lost around £200 million.


-------------continues http://express.lineone.net/posts/view/4 ... all-by-30-

[TrueBlueTerrier]

http://www.guardian.co.uk/business/2008 ... tworkfront

Royal Mail called today for price controls to be lifted after admitting it is now handling 3m letters a day fewer than it was a year ago and has run up £200m of losses from its regulated letters and parcels business.

The figures underline the financial crisis facing the state-owned postal operator from private sector competition and the migration of post to the internet, coupled with the downward pressure on bonds and other investments in its retirement scheme.

The scale of the problems add urgency to a review of the market after an independent inquiry commissioned by the government warned earlier this week that liberalisation of the wider postal market had provided no benefit to the average customer but put the universal service at risk.

.............. continues http://www.guardian.co.uk/business/2008 ... tworkfront

[TrueBlueTerrier]

http://news.sky.com/skynews/article/0,, ... 78,00.html

The Royal Mail's profits have fallen by almost a third to £162m - the lowest figure for five years.

The universal postal service under which letters are delivered anywhere in the UK for the same price lost £100m in 2007/8.

Overall the price controlled area of Royal Mail's business lost around £200m.

The latest results also reveal the Post Office network is losing around £500,000 a day.

Against this revenues increased by 2.3% to £9.4 billion, largely because of a rise in the parcels business.

continues ................ http://news.sky.com/skynews/article/0,, ... 78,00.html

[TrueBlueTerrier]

http://business.timesonline.co.uk/tol/b ... 892886.ece

Royal Mail's post bag has shrunk by three million letters a day in the last year, pushing its regulated letters and parcels business into a £200 million loss.

The postal group today revealed the extent of Royal Mail's growing financial crisis which is threatening the viability of the universal service that allows people to post a letter anywhere in the country for one price.

The universal service itself has made an estimated loss for the first time of £100 million. Overall losses in the Royal Mail's regulated business are estimated to have reached £200 million in the year to the end of March 2008, compared with a £29 million loss last year.


continues .................. http://business.timesonline.co.uk/tol/b ... 892886.ece

[TrueBlueTerrier]

Royal Mail's 'one price goes anywhere' postal service losing money for the first time in 168 years (real Headline)

http://www.mailonsunday.co.uk/pages/liv ... ge_id=1770

Royal Mail warned today that it cannot keep delivering letters to every home in Britain for the same price without radical changes.

In a red alert, it said the "universal service" is losing money for the first time since records began.

Without urgent help, chief executive Adam Crozier said the "one-price-goes-anywhere" service will struggle to survive.


continues ...................... http://www.mailonsunday.co.uk/pages/liv ... ge_id=1770

[somerset]

I see they were a bit quicker to announce the results than last year. When they said there wasn't enough money in the kitty to give us a payrise

[TrueBlueTerrier]

all this doom and gloom yet most stories are that profits are down not that we are loss making . Perhaps the RM spin machine is on full cycle, but TBH we are in trouble and something needs to be done.

This year may be the biggest and most important year in Royal Mails history (again ). We should survive but which way are RM and the government going to go - full privatisation and abandonment of the USO or back track as far as possible under the EU rules and become more of a protectionist state, than a market state where RM are concerned.

[dvbuk55]

The telling point here is the USO! You will notice that our obligation is being blamed for the loss, so is that the next in line for the chop - lets see 12 months to get the USO dropped, 12 more to decide who isn't going to be on the list of daily deliveries - General Election 2010 - privatisation 2011/12.

[Broxi51]

The telling point here is the USO! You will notice that our obligation is being blamed for the loss, so is that the next in line for the chop - lets see 12 months to get the USO dropped, 12 more to decide who isn't going to be on the list of daily deliveries - General Election 2010 - privatisation 2011/12.

Dont See any Government having the b*lls to ditch the USO. With PO closures already causing problems for Labour they dont need to add to their woes.

[TrueBlueTerrier]

Royal Mails press release along with a link a PDF document with the unaudited figures can be found at http://www.royalmailchat.co.uk/forum/vi ... 956#116956

[DGP1]

Against this revenues increased by 2.3% to £9.4 billion

I think this is the most important thing in the accounts because if revenues are up and profits are down then someone has made a monumental error in senior management (the budget has been cut in my office and we've lost several full time staff who've not been replaced).

I wonder how much of that extra operating costs is (mis)management costs

[tomangoe]

If we're delivering 3 million less letters a day,how many does that work out at per walk ? Also if we're losing all this business and still making a big profit just think what it would be like if management actually got their act together and stopped wasting huge amounts of cash on stupid ideas!

[Stormproof]

If we're delivering 3 million less letters a day,how many does that work out at per walk ? Also if we're losing all this business and still making a big profit just think what it would be like if management actually got their act together and stopped wasting huge amounts of cash on stupid ideas!

Not sure how many posties there are, but if there are 50,000 walks thats 60 items per duty.

[Tman]

Royal Mail's post bag has shrunk by three million letters a day in the last year, pushing its regulated letters and parcels business into a £200 million loss.

Can't be true. All those posties who's bags are heavier than they were before ain't stoopid y'know...