Tag: Royal Mail

True picture is stuck in the post

Posted by | Aug 9, 2007 | |

For an organization desperate to be seen as more efficient and business-like, Royal Mail seems to be displaying a cavalier attitude to its ultimate backers – its customers and the British taxpayer. Any listed company that delayed its annual report for three months for no stated reason would be treated with impatience if not downright suspicion.

For Royal Mail, the time lag is even more egregious because it doesn’t publish its financial results separately. The annual report is the first chance to gauge the health of the company.

While the regulator PostComm says it has been given the entire document, the same courtesy has not been extended to either Parliament, customers or the media. Royal Mail won’t explain. It may just be that the GBP 4 billion refinancing of the business has injected major complications, but that should not have had any impact on the relevant reporting period.

There are two theories about the delay. One is that it is to suppress embarrassing management bonuses during the current industrial dispute, which is partly over staff pay. The other is that the bottom line is rather healthier than management would like known at a time when it is seeking to keep the annual staff pay rise this year to 2.5 per cent.

Neither is a legitimate reason for burying the news, bad or good. The series of rolling strikes is producing real pain by hitting companies’ cash flow.

Read More

Many banks and card companies to be sympathetic over postal delays

Posted by | Aug 9, 2007 | |

A number of banks and credit card companies in the UK have stated that they intend to be sympathetic with customers who may have suffered as a result of the postal strikes in terms of payments coming in late because of the postal delays.

Although banks have suffered a fair amount of bad press lately some of the leading banks and credit card companies stated that they would take the postal strikes into account when it came to customers’ accounts.

The postal strikes were set to go on for two week in total, and this means that those paying by cheque will find that their payments may be delayed, which could result in their bank accounts exceeding the overdraft limit or their credit cards going over the credit limit due to late payment.

Banks and credit card companies are urging consumers that experience this problem to contact them, stating that they will ensure that they are sympathetic when it comes to the removal of charges that were applied as a result of late payment because of postal delays.

Consumers are warned that trying to dupe the banks into thinking that payment is late because of postal strikes will not be easy.

Read More

Royal Mail given extra pricing flexibility

Posted by | Aug 9, 2007 | |

Postcomm has proposed that Royal Mail be given extra flexibility to increase some retail prices but has decided to leave access margins unchanged in response to the company’s request to review some aspects of the 2006-10 Price Control.

Royal Mail will be allowed to increase prices on certain loss-making products in April 2008 and April 2009 by more than was originally agreed when its four year price control was set. If it wishes, Royal Mail will be able to raise the price of a second class stamp to 29p by 2010, subject to inflation (the original price cap was 26p). The price cap on a first class stamp will not be affected by these proposals.

Postcomm is rejecting requests from TNT and UK Mail to widen the margin between Royal Mail’s prices for bulk mail products and the amount Royal Mail charges them for access to its network and delivery of bulk mail over the ‘final mile’. Royal Mail had also made an application on access, to narrow the margin. However the company has not provided sufficient evidence to support this application and has been unable to justify the level of loss it claims it is making on access mail.

Postcomm’s Interim Review document contains information extracted from Royal Mail’s regulatory accounts which were submitted to the regulator on 31 July in accordance with Royal Mail’s license obligation. Royal Mail has informed Postcomm that the sections of the regulatory accounts, which it normally makes public, will be published by no later than 15 August.

Read More

TNT Post appoints Andrew Firth as a regional Business Development Director

Posted by | Aug 9, 2007 | |

TNT Post is pleased to announce the appointment of Andrew Firth as a regional Business Development Director. Based at TNT Post in Nuneaton, Warwickshire, Andrew will be responsible for developing new business initiatives from Greater London to the Midlands and expanding the company’s rapidly growing client base. He will manage a team of 13 staff and will report to Bob van Ierland, Director of End to End Development.

Andrew joins TNT Post with more than 25 years of experience working in logistics. Previously, Andrew ran his own logistics consultancy handling contracts worth up to GBP 1 million per annum. Prior to that, in 2003, Andrew was drafted in to save a specialist logistics and installation company, which he then made profitable within two years.

The team Andrew joins started operations in August 2006 and focuses specifically on attracting new business from Greater London to the Midlands.

TNT Post now boasts a customer base of more than 200 local businesses in Greater London to the Midlands, with the majority receiving TNT Post’s PremierSort Flex, a two to three day postal service, with Royal Mail continuing to carry out the final mile delivery to customers’ homes nationwide. Current customers come from a range of sectors such as government, automobile and entertainment.

The PremierSort Flex service is specifically tailored to meet the needs of small to medium sized businesses or companies that have lower business mail volumes and offers valuable benefits to local businesses such as: flexible pick up times, cost savings, use of tracking systems that enable improved visibility and management, and a fast and reliable high level of service.

Read More

Consumers and Members of Parliament demand to see Royal Mail financial report

Posted by | Aug 9, 2007 | |

Royal Mail came under attack yesterday for refusing to publish its delayed financial results as it emerged that it has given them to the postal regulator.

Royal Mail would not give a reason, but speculation is growing that it wants to avoid controversy over executive bonuses or hide the fact that its financial performance is better than expected. Both issues would prove tricky as it battles with the Communication Workers Union.

Royal Mail said that it had not set a date to make the results public. The figures are for its year to the end of March and usually are published in May. It has avoided a fine by sending the numbers to Postcomm within a deadline set by its license, but the regulator has no obligation to make them public.

The delay comes as postal workers are staging a month of strikes in the worst dispute to hit the business for 11 years and as thousands of post offices are being closed.

Royal Mail had to supply figures to Postcomm no later than four months after the end of the financial reporting period, (therefore, July 31) to fulfill its license. It is obliged to file the accounts with Companies House at the end of next month, six months after the close of its reporting period.

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

Have you noticed a decrease of non-EU inbound parcel volumes since the implementation of the new €3 charge?

Thank you for voting
You have already voted on this poll!
Please select an option!


View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest