Last years Profits?

[colin hancox]

Is it true that R M made 355mill profit last year?

[somerset]

Don't you have newspapers in Jockland?

[TrueBlueTerrier]

Apparently not:

Royal Mail accounts - at last
At long last, Royal Mail has published its regulatory accounts for 2006/07. You can check these out here. ftp://ftp.royalmail.com/Downloads/publi ... 1Final.pdf

This is not an easy document to understand, so here are some headline figures:


* First class stamps made a loss of £71M compared to a loss of £128M in the previous year – so a significant improvement in performance but still a sizeable loss

* Second class stamps made a loss of £114M compared to a loss of £115M in the previous year – so no change and still major losses

* First & second class meters made a profit of £116M compared to a profit of £203M in the previous year – so a large drop in profitability

* First & second class postage paid impressions (PPI) made a profit of £51M compared to a profit of £82M the previous year – so another fall in profitability.

* Mailsort, Cleanmail & Walksort made a loss of £61M compared to a profit of £48M the previous year – so another reverse.

* Downstream access made a loss of £44M compared to a loss of £14M the previous year – this is because of volumes more than doubling to over 2.4 billion items.

* Other products made a profit of £111M compared to a profit of £121M the previous year – again a reverse.

Combining all the product groups in the price controlled area, for 2006/07 Royal Mail made a loss of £12M compared to profit of £197M the previous year – a significant reverse in fortunes.

Source: http://postwatchuk.blogspot.com/2007/08 ... -last.html

[TrueBlueTerrier]

So basically DSA is costing us it seems to be the main drain on the company apart from stamped mail which has always made a loss.

[somerset]

So now you can understand why :cfo got £370,000 and :lfo got £100,000 bunuses and doms averaged £5,000. Gawd only knows how much they would have got if RM had made a profit Sing this tune " Fiddle de de de,de de de de, de. Oh fiddle de de de etc"

[colin hancox]

Thanks 4 that quick reply True Blue Terrier.

[BELIAL]

What is the point discussing thess REGULATORY accounts? Even the auditor says that they are not worth the paper they are written on.

They are not compliant with internationally accepted codes of accountancy practise.

They are not compliant with the requirements of THE Companies ACT.

They DO NOT necessarily reflect a fair and ACCURATE picture of RM's trading position.

Not my statements, the AUDITORS.

The real accounts,STATUTORY were audited on 31 JULY but have not been released, WHY?

Why have Postcomm agreed to accept such a potentialy inaccurate set of figures for this year? They would have been rejected last year. Postcomm could have asked for the compliant Statutory statement, and RELEASED it.


A cynical observer might conclude that there exists a high level of colusion/cooperation between RM senior management, Postcomm and the goverment. To what end? Cost reduction , our wages and conditions.

It is perfectly possible for the true accounts on release{poss. JAN 08} to still show an operating profit of £800 million, But you're more likely to accept a crap deal if you think RM's in the red.

We are in the middle of a blizzard of propaganda,distortion and obfuscation, lets not get stuck in a snowdrift.

[cruisey]

Belial is correct. These figures were published as talks go on. RM have lied throughout this dispute. Come January, don't be surprised if they have a huge operating profit. Lets not forget who signed the access agreements with postcomm. :lfo :cfo 'We can handle it' they said. Looks like the dog (competion) has rounded on them and bit them royally on the arse :cfo :lfo