when will royal mail announce this years profits

[peedofpostie]

now we have been shafted when will rm announce how much they have actually made this year will make intresting reading i am sure now we ve all been stitched up let the profits roll in

[Stormproof]

According to a few posters on here RM are skint, no money in the pot (apparently)

[Body Beyond Repair]

24,000 jobs, 50% of mail centres closed in the next 3 years...... should be a nice little earner for RM

[Glenno]

24,000 jobs, 50% of mail centres closed in the next 3 years...... should be a nice little earner for RM

its already happening i predict with-in 2 years we WILL be a privatised company
with ALLthat that entails you read it here first

[cantbelieveit's...]

going on half year profits, i reckon about 400million!

[Darren Bent]

will there be a bonus payout after profit announcement. say Royal Mail made 300 millions profit for example.

[Big Daz]

Whatever the profits are it will need looking at in perspective as the headline figure is allways GROUP profits and Royal Mail Letters profits unlike the good old days only contribute a minority share of GROUP profits.

RM Letters profits are way down on what they used to be and £100 million (using Adam Crozier figures) of that is down to DSA.

Also part of group income/profit is the £150 million a year subsidy from the Government to POL, take that into account and our figures look a withering rose.

[pickaname]

24,000 jobs, 50% of mail centres closed in the next 3 years...... should be a nice little earner for RM

its already happening i predict with-in 2 years we WILL be a privatised company
with ALLthat that entails you read it here first

Royal Mail will be sold off and lose the Royal insignia in favour of....

Yes you guessed it!

World Class Mail Ltd.

[Martin Walsh]

With Royal Mail`s new pesnion defcit being 10 billion , and the loan to the government not being paid for 3 years what nutter is going to buy Royal Mail totally ?

No one is going to go for full privitsiation as it is not viable for any company.

The only show in town and the tories are also onto this is to re shape the Hooper report and a partial privitsation but with the Government still holding 51% of the company. Even then the fact is that would need the Govenment to take over the pension defcit. However with the state of public finances then who knows whether it would want to take over more protential debt. It is far more like that the Post Office will recive an agreement to repay the defcit over 30 or 40 years rather than 17 years as of now.

Look the financial plan mean that with the amount of VRs, the benefits package and the purchase of CDVs they dont expect to starting making any profit until year 4 of the transformation. Even then 1% reduction in traffic would mean the plan is off target to appoxmately 40 million.

Some of you get blinded by the fact the group profit is high but that includes money from the govenment etc. Royal Mail letters was only 50 million and in a company with a 7 billion turn over not great and that does not include the loan repayment to the govenment.

The facts are this if Royal mail was a private company it would be insolvent. Thats why this change was neccesary and why the union got the best deal possible. The majority of those voting accepted this , and the rest who didt vote either just accepted the agreement or could not care. But lets face it come this Thursday any govenement would be happy with a 67% vote of those who voted as a mandiate.

[Cut Off King]

"The only show in town and the tories are also onto this is to re shape the Hooper report and a partial privitsation but with the Government still holding 51% of the company. Even then the fact is that would need the Govenment to take over the pension defcit. However with the state of public finances then who knows whether it would want to take over more protential debt. It is far more like that the Post Office will recive an agreement to repay the defcit over 30 or 40 years rather than 17 years as of now.

Look the financial plan mean that with the amount of VRs, the benefits package and the purchase of CDVs they dont expect to starting making any profit until year 4 of the transformation. Even then 1% reduction in traffic would mean the plan is off target to appoxmately 40 million.

Some of you get blinded by the fact the group profit is high but that includes money from the govenment etc. Royal Mail letters was only 50 million and in a company with a 7 billion turn over not great and that does not include the loan repayment to the govenment.

The facts are this if Royal mail was a private company it would be insolvent. Thats why this change was neccesary and why the union got the best deal possible. The majority of those voting accepted this , and the rest who didt vote either just accepted the agreement or could not care. But lets face it come this Thursday any govenement would be happy with a 67% vote of those who voted as a mandiate.

That sound's like the same speech we get at WTLL

[ROSSCO]

I thought the company was having to put in an extra 800 million pounds every year for the pension deficit,so if that money was included in 6 month profits things would look very rosey.Or am i missing something here?

[fishtank]

I thought the company was having to put in an extra 800 million pounds every year for the pension deficit,so if that money was included in 6 month profits things would look very rosey.Or am i missing something here?

No your not missing anything.
Dingo likes to use the pension deficit as a reason for us all to "get real".
What he fails to understand is that it's not your fault or my fault or indeed any of the members fault that the pension fund is screwed.
Unfortunately we have to pay for it TWICE in respect of poorer terms and conditions AND a poorer pension at the end of it.
Maybe the CWU should spend more time chasing those really responsible for the pension farce and less time beating members over the head with the resultant fallout.

[Big Daz]

I thought the company was having to put in an extra 800 million pounds every year for the pension deficit,so if that money was included in 6 month profits things would look very rosey.Or am i missing something here?

Its currently a extra £280 million a year on top of normal pension payments.

[smileski]

just to skip back to the original question, does anyone know when the yearly profits will be announced?

[Glenno]

The facts are this if Royal mail was a private company it would be insolvent. Thats why this change was neccesary and why the union got the best deal possible. The majority of those voting accepted this , and the rest who didt vote either just accepted the agreement or could not care. But lets face it come this Thursday any govenement would be happy with a 67% vote of those who voted as a mandiate.

Looking into my crystal ... the new Government of the day will conjure up a White Paper
enabling the Full Privatisation of RM.. minus the Pension Deficit.. allowing RM full
comercial freedom.. look at all those millions of pounds that RM will not be liable for
can we then go back and negotiate another Agreement