Tag: UK

Small businesses stand to lose up to £50 million from the wildcat postal strikes that crippled services in London, the suburbs and beyond, the Federation of Small Businesses claims.

Stephen Alambritis, of the federation, said the strike would cost companies Pounds 30 million if the backlog was cleared in the next few days, but up to Pounds 50 million if it took longer to deliver the 50 million or so items delayed by the action. Royal Mail estimates it could take up to three weeks.

Royal Mail is set to unveil its first profit since Allan Leighton took over as chairman early 2002 and the postal group began a three-year turnaround project.

Mr Leighton is expected to disclose that Royal Mail group returned to the black in the six months to September with operating profits of £40m – £50m. In a reversal of fortunes that will be seen as a vindication of his overhaul, Mr Leighton is also expecte to declare interim pre-tax profits of more than £3m, against the loss of £611m last year.

Royal Mail has selected nCipher’s nShield hardware security modules (HSMs) to help deliver safe internet transactions and services from its web site www.royalmail.com. As well as providing postcodes online, mail and parcel tracking and philately services, the popular Internet portal also allows customers to shop for travel insurance and foreign currency and to pay bills online.