Tag: UK

Business Post delivers improvement

Posted by | Jul 12, 2006 | |

A company handed a licence under the deregulation of the postal service has showed signs of recovery following a profits warning earlier this year.

Business Post warned in January that annual profits for the year to March 31 would be pounds 4.5m lower than expectations because of the cost of buying out the leases to a string of franchised depots.

The company said a number of initiatives had helped stabilise its performance since then, adding that recent trading was satisfactory and in line with market hopes.

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Business Post says Q1 trading in line with expectations

Posted by | Jul 11, 2006 | |

Business Post Group PLC said first quarter trading was satisfactory and in line
with the board’s expectations.

In a statement prepared for today’s AGM, chairman Peter Kane said the performance improvement initiatives within Parcel Services continue to make progress.

Parcel Services, comprising the overnight business-to-business, business-to-consumer, and cross-border parcel delivery activities, continues to make steady progress following the difficulties experienced in 2005, Kane added.

He said service levels have remained at a very high standard and the programme of reducing unit costs within the Linehaul operation is proceeding to plan.

Further progress has also been made in improving the performance of the franchise network.

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Protect UK Royal Mail by giving it away, says Yeo

Posted by | Jul 10, 2006 | |

The former Conservative minister Tim Yeo today calls on the Government to give away Royal Mail as part of a pounds 4bn plan to safeguard the future of the organisation.

Mr Yeo, the Tory MP for South Suffolk and an ex-environment minister in John Major’s government, says the proceeds should be re-invested in the business to help motivate its workforce, protect rural post offices from closure and plug the hole in its pension fund.

Under the Yeo plan, Royal Mail’s shares would be split into four. A quarter would be given to employees, each of whom would get shares worth an average of pounds 5,000, a quarter would be allotted to Royal Mail’s pension fund and a quarter would go into a trust fund set up to prevent branch closures. The remaining quarter would be sold to the public in a flotation, providing a pounds 1bn cash injection to finance future Royal Mail investment.

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