Consignia chief admits delays
Consignia does not have the financial systems in place to compete as a commercial corporation despite being the equivalent of a FTSE 100 company, chairman Allan Leighton admitted yesterday.
It would take another 12 months for the benefits of a pounds 100m project to update its computer systems to come through and allow it to compete on equal terms with the private sector, he told members of the commons trade and industry select committee.
The admission was met with concern by consumer group Postwatch. Peter Carr, chairman said: “I am glad they have admitted it. But at a time when they are applying for a pricing increase you have to hope their figures are correct.”
Data coming out of Consignia was reliable, said a company spokesman. “But obviously we need to update our systems as we face competition and are no longer a government department.” Mr Leighton reiterated that the business needed “major surgery” to survive and admitted it was in a “pretty perilous state”.
