RM Press release on profit fall

[POSTMAN]

Operating Profit Falls But Results Show Modernisation Is Working

Royal Mail Group said today its operating profit fell to £52 million in the six months to the end of September as mail volumes continued to decline and competition from rival operators and electronic media increased. The operating profit in the first half of the 2010-11 financial year represented a return of just over 1% on Group-wide revenues of £4.4 billion.

The Letters business of the Group moved from operating profit to loss during the first half of the year with letter volumes falling to an average daily postbag of 68 million items - 16 million fewer than the average daily volume just five years ago, when volumes peaked. The average postbag is now at levels last seen in the mid 1990s

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[Stormproof]

The Letters business of the Group moved from operating profit to loss during the first half of the year with letter volumes falling to an average daily postbag of 68 million items - 16 million fewer than the average daily volume just five years ago, when volumes peaked.

Would it of been 5 years ago that the competition started leeching

[mandelsons_toenail]

so mail is doen from 73 million last year to 68 million this?

Please

we have more mail than ever. this is f***ing madness

[mandelsons_toenail]

The results for the first six months of the financial year also showed a further increase - up 13% - in "access" mail which has been collected from business customers by Royal Mail rivals but delivered by Royal Mail’s postmen and women. The accounts for last year, 2009-10, showed Royal Mail losing an average of 2.5p on access mail, which accounts for more than one in three of all letters delivered by Royal Mail.

[mandelsons_toenail]

so over a third of our letters are access mail

say 25 million items a week. a 2.5 p loss on each item!

thats a lot of money !!

[fishtank]

with letter volumes falling to an average daily postbag of 68 million items

This figure...is a six month average through April to September...traditionally the quietest months of the year.

16 million fewer than the average daily volume just five years ago

This figure is an average throughout the year......lies,damn lies and statistics.

[mandelsons_toenail]

i mean for f**k sake RM cant even be honest about how many letters are in a tray of mech so how the hell are we supposed to trust them with mail figures for the year.

On a count in our office, the MC figures were down 19% compared to what we actually received.

Thats the difference between 68 million items and 81 million items a week - jesus

[stephen500]

Isn't it funny that these figures have just been released?
When I was a delivery postman you went out with no more then two bags.
I bet they are not back to that level.
I see no real evidence that mail is down, only that access mail creams the profits thanks to allowing unfair competition.
Over the coming months the news agenda will be manipulated as privatisation moves through Parliament.

[ziko]

16 million fewer than the average daily volume just five years ago, when volumes peaked. The average postbag is now at levels last seen in the mid 1990s

So basically mail volumes haven't fallen in the last 15 years they are the same. However there are less posties than 15 years ago and more homes to deliver to. Oh and let us not forget the online parcel and packet industry in this country is worth over 10 times the amount it was 15 years ago ....since the internet explosion ... Ever get the feeling your getting shafted................

[mandelsons_toenail]

allegedly mail has fallen a further 5% in the past 6 months

Lol on top of the 10% they kept sprouting last year

utter crap

[DirtyHarry]

It defies belief, that they can keep spouting their crap unchallenged.

So, with a bill to sell off Royal Mail going through parliament, profits have suddenly gone down.

[fishtank]

It defies belief, that they can keep spouting their crap unchallenged.

So, with a bill to sell off Royal Mail going through parliament, profits have suddenly gone down.

I'm surprised they're not claiming a cash flow crisis just to focus the minds of those that don't believe that privatisation is the only answer.
Ohh...wait a minute....they are.

[meercat]

There's more mail in our DO than ever. Tuesdays aren't quiet anymore and neither are Sats - everyday is busy. A lot of people booking OT on a Tuesday - previously unheard of.

[Guevarista]

So, once again, we have to ask: 'What the Hell is the regulator doing other than slowly bleeding us to death?':

'Royal Mail had a £157 million operating loss after exceptional items last financial year, 2009-10, on "access" mail - the letters, packets and parcels collected by its rivals but delivered by Royal Mail. The loss amounted to an average of 2.5p per item for the 6.4 billion pieces of access mail delivered by Royal Mail, and access mail continues to grow. More than one in three of all letters delivered by Royal Mail is an access item of mail.'

The press continue to berate us for our so-called 'Spanish practices'.... DSA is a bigger and more corrupt rip-off than the Valencian land-grab!

[BELIAL]

so over a third of our letters are access mail

say 25 million items a week. a 2.5 p loss on each item!

thats a lot of money !!

It's more than that according to their figures, try 150 million items a week .Then look at your frame and work out how much DSA each slot gets a week ,if it's more than one a day then there is a serious underestimation going on