Tag: Royal Mail

Royal Mail puts value at zero to calm share fears

Posted by | Oct 4, 2006 | |

Royal Mail is worth nothing, the organisation has told the Government and politicians, in an effort to take the political heat out of its push to give employees shares in the business.

The state postal service, in arguing that the Government effectively would be giving nothing away if staff were given shares, contends that the shares would also be worthless when they are issued.

Royal Mail has calculated that it is worth nothing because its assets, which are thought to be valued at about GBP5 billion, are cancelled out by its pen-sion deficit, which stands at GBP5.6 billion.

Royal Mail has told the Treasury and the Department of Trade and Industry that the group would be worth GBP4 billion by 2010-11, triggering shares worth GBP5,000 per employee.

It believes that it can build up from a zero balance to a GBP4 billion value through modernisation and increased productivity, which will come from giving staff an incentive through the share-ownership programme.

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Post Office® cuts the cost of credit card spending abroad

Posted by | Oct 1, 2006 | |

People using a Post Office® Credit Card will get an even better deal from Monday (2nd October 2006).

When shoppers use the card abroad, they’ll no longer be charged commission.

As the UK’s leading travel money business, the Post Office® wants to give customers an even better deal on their travels.

What’s more, the interest-free period for balance transfers has been extended from six to eight months. And for three months customers will be charged no interest on new purchases.

After this period, Classic card customers will move on to a standard rate of 14.9% APR and Platinum card holders move on to 13.9% APR. So even when the interest rate ends, customers can benefit from one of the best rates on the market.

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GBP2.2m mail sorting office opens

Posted by | Sep 25, 2006 | |

A brand new multi-million pound Royal Mail postal sorting office has opened in Suffolk.
The GBP2.2m centre on Skyliner Way in Bury St Edmunds brings together 140 postmen and women delivering more than 100,000 letters and parcels a day.

The old premises on St Andrew’s Street South, which had been home to the Royal Mail since the 1960s, will be redeveloped as part of a town project.

There will be no change to deliveries in the Bury St Edmunds area.

‘Great news’

Senior delivery manager Steve Glenn said: “This is actually purpose-built for our operation today.

“It’s great news for our people who deserve better and more modern facilities than we have had up to now in the new building.

“I can honestly say at this moment this is the best delivery office in the country.”

Staff moved from the old offices to the new ones over the weekend.

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Post Office® Ants set to raise funds for hospices across the country

Posted by | Sep 25, 2006 | |

Post Office Ltd is producing a range of special edition pin badges in a new initiative to raise funds for its major supported charity, Help the Hospices. Funds raised will be split between a number of local hospices across the country.

The rubber badges feature the Post Office®’s well-known family of ants, with each one waving a ‘Help the Hospices’ placard. They will be on sale in 500 Post Office® branches across the UK for two months from today (25 September) for a suggested minimum donation of GBP1.

Six different badges are being produced, each featuring different characters from the Post Office® ant family. One of the badges, featuring the twins, will be available only as a special edition for collectors. Some 3,000 of these special collectable badges will be available via mail order from Help the Hospices (tel 0207 520 8245 or email [email protected]).

Branch staff are also being encouraged to sell the badges through an internal competition, with a prize for the branch that sells the most.

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Royal Mail promotes Hings to boost brand

Posted by | Sep 21, 2006 | |

Royal Mail has promoted Tom Hings to the new position of director of brand marketing as it faces up to increased competition following the liberalisation of the market.

Hings, who has been with the company for four years, was previously head of brand strategy and advertising and was behind the “With us it’s personal” campaign.

He will be responsible for “developing and strengthening the Royal Mail brand to drive growth and retain customers”.

Hings will report to marketing director Alex Batchelor, who joined from Orange last year (MW April 21). Batchelor says: “His marketing knowledge and the experience he has gained working on the Royal Mail brand will be an asset to the company as it competes in a market recently opened to full competition.”

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