Business Post Group – Postcomm determination update
Business Post announces that it has been advised by the Postal Services Commission (“Postcomm”), the independent postal industry regulator, that the publication of its determination of UK Mail’s access to Royal Mail’s delivery network for public consultation will be later than originally anticipated. At this stage it is difficult to predict when the determination process will be finalised. Business Post will make a further announcement once Postcomm’s determination has been published.
As reported in the announcement of interim results on 12 November 2002, the establishment and operating costs of UK Mail, Business Post’s business mail subsidiary, are being kept to a minimum and are being expensed to the profit and loss account. The long-term attractions of this market, estimated at over #5 billion per annum, remain considerable.
The Board continues to believe that the current year will be one of progress, notwithstanding its being one of investment in the Group’s newer and smaller businesses and the franchise network. The Board remains very confident about the Group’s long-term potential.
