The truth about royal mails profits

[raikky]

Royal made 279 million in operating profit the first 6 months
last year it made 353 million in the first 6 months
Last years first half year profits were boosted by a 35 million return from the taxman
They were also boosted by 37 million from pension related costs

sooo... royal mails profits are up which last year were really 266 million. a difference of 13 million improvement

They will also save a further 70 million a year by next year from management reorganisation.

If you look at the full report, its pretty good. just an excuse to get rid of the 6 day a week delivery and sack us all so investors can get richer

[Postie45]

sack us all ? i dont know about your delivery office, but ours is struggling to cope with the amount of staff we currently have, people are being begged to do overtime as they cant cover the duties.

[Cedar_Room]

Yeah,I've stopped listening to the dirge that the media report regarding RM's profits or losses,it's all smoke & mirrors.

Our office is run on overtime,has been for all the time I've been there. We have managers throwing walks in & going out on deliveries daily too.

Some walks are too long & heavy,others are a piece of cake. Some folk (well,me a about ten others) work all our hours whilst the majority shave at least 5 or 6 hours off their working week by breaking just about every rule going. Yet still they wonder why complaints are on the up???

If anyone with any nouse ever comes in to look at the books there'll be one hell of a shake up,honestly we must be haemorraging money left right & centre - all because off bad management & inadequate staffing (IMO).

[wacko74]

To be fair it's not the 'media dirge' that's misreporting our profits or prospects... it's our own senior management and for some bizarre reason they always seem to do it just when the share price is starting to look up.

Every time the shares are heading up our management issue a 'profits warning' or 'competition warning' or basically trot out some other scare story predicting our imminent demise, with the result that the share price crashes back down again.

Very, very strange behaviour... and I'd love someone to explain to me why they keep doing it, it's happened far too often now for it to be down to incompetence or coincidence.

[Cedar_Room]

To be fair it's not the 'media dirge' that's misreporting our profits or prospects... it's our own senior management and for some bizarre reason they always seem to do it just when the share price is starting to look up.

Every time the shares are heading up our management issue a 'profits warning' or 'competition warning' or basically trot out some other scare story predicting our imminent demise, with the result that the share price crashes back down again.

Very, very strange behaviour... and I'd love someone to explain to me why they keep doing it, it's happened far too often now for it to be down to incompetence or coincidence.

It's the world of Royal Mail.

It's like some parallel universe & unless you're actually privy to the goings on,you really wouldn't believe the stuff that occurs.

That's just at DO level,so god only knows what it's like at the top.

[rubberbond]

To be fair it's not the 'media dirge' that's misreporting our profits or prospects... it's our own senior management and for some bizarre reason they always seem to do it just when the share price is starting to look up.

Every time the shares are heading up our management issue a 'profits warning' or 'competition warning' or basically trot out some other scare story predicting our imminent demise, with the result that the share price crashes back down again.

Very, very strange behaviour... and I'd love someone to explain to me why they keep doing it, it's happened far too often now for it to be down to incompetence or coincidence.

It's the world of Royal Mail.

It's like some parallel universe & unless you're actually privy to the goings on,you really wouldn't believe the stuff that occurs.

That's just at DO level,so god only knows what it's like at the top.

The problem appears to be that those above local management (DSM level and above) are lying to those above them about how things are. They are completely and utterly out of touch with what is going on ,on the shop floor,just like our friends at the top of the Union. Time for a major,major shake up of both elements.

[seaside]

Royal made 279 million in operating profit the first 6 months
last year it made 353 million in the first 6 months
Last years first half year profits were boosted by a 35 million return from the taxman
They were also boosted by 37 million from pension related costs

sooo... royal mails profits are up which last year were really 266 million. a difference of 13 million improvement

They will also save a further 70 million a year by next year from management reorganisation.

If you look at the full report, its pretty good. just an excuse to get rid of the 6 day a week delivery and sack us all so investors can get richer

I think you could be right

[andypandy_750]

Id also guess that the 20 million pounds they've put aside for the French competition fine will have also been took out of that figure making it 33 million up on last year

[postslippete]

Apparently Royal Mail are now blaming the same day delivery service offered by Amazon as well as TNT or Whistl as it is now known (what a quaint name for a courier company) for the fall in the half year profits.

Anyway, the £70 million savings are supposed to start in 2016 with voluntary redundancies (once again) in the hope that they will cut around 2,000 to 3,000 jobs each year. I don't think that it is just management. Plus it also plans to sell 3 former mail centres in London which are to be turned into luxury flats with a total value of over £1 billion.


Apparently, Royal Mail also made £279 million in operating profit for the last 6 months as well. But surely if we downsize as a company both in terms of mail centres and staff numbers, then how will we be expected to make the same amount of profit?? Oh I get it, we will all be working harder. No chance!! Today has been the only day where I have actually finished on time, and not like 2 hours over!! After Xmas, I can see we will all be rewarded with extra lapsing again, and I can see myself again just working to my time on my own round.

And if everyone thought like me, then the savings that Royal Mail will make must surely lie within a lot of the "non jobs" in Senior Management (senior project manager, marketing analyst and business strategist). Don't get me wrong, we do need some senior managers within the Royal Mail to give us direction, but we simply don't need as many as we have now.

[krussel]

I personally think that the drop in profits is an excuse to drop the USO

I am sure that shareholders (outside RM) hate the fact that we have to deliver to non profit making DP's every day.

[gfboots]

been told today by union rep, we are getting £48 in "Shares bonus" in January 2015

[OnAFlyer]

been told today by union rep, we are getting £48 in "Shares bonus" in January 2015

It's been displayed on the screens in delivery offices for a while. I'm guessing a lot of offices haven't got working screens though, or any at all.

[SWIM]

been told today by union rep, we are getting £48 in "Shares bonus" in January 2015

wow.

[piranha]

Does anyone have time to read the patronising crap on those screens?

[Whysoslowyehcfc]

If Royal Mail really want to save money then they should start getting rid of managers on the floor, 80 postman jobs at my office, yet we have 2 doms and 4 other managers...
Come 10-30 all sitting around drinking tea waiting for the clock to reach mid-day and then gone, how is that allowed?