Tag: UK

Royal Mail clashes with union over shares plan

The Royal Mail was on a collision course with the main postal workers’ union today when a fresh row blew up over the future of the industry. The Communication Workers’ Union announced that a huge majority of its members were opposed to the idea of shares being given to workers. The union said a consultative ballot showed that 90,103 of its members supported the CWU’s vision of a publicly owned Royal Mail – a majority of 98.5%. A separate ballot run by an independent company showed that of 1,000 union members polled 949 backed the union. Within minutes of the announcement, the Royal Mail revealed it had asked an independent auditor to examine the union’s ballot as well as one that the company has been holding in recent weeks. Royal Mail chairman Allan Leighton said that 80,000 workers supported his idea for issuing shares.

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UK post strike threat looms in pay dispute

The threat of a national postal strike was set to come a step nearer today when workers decide whether to set a deadline for resolving bitter disputes over pay and the future of the Royal Mail. The Communication Workers Union has clashed with the postal organisation after a 2.9% pay rise was imposed and chairman Allan Leighton made clear his intention to press ahead with issuing shares to workers. The union believes shares would open the door to privatising the Royal Mail, despite denials from Mr Leighton. Delegates at the union’s annual conference in Bournemouth will today discuss an emergency motion which sets a four week deadline for making progress, otherwise a national strike ballot will go ahead. The motion calls for pay talks to be reopened and attacks the Royal Mail for trying to “marginalise” the union. General secretary Billy Hayes accused Mr Leighton of being an “out of control civil servant.”

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Board changes at Business Post

Business Post Group plc announces that Steven Glew is to join the Board and assume the role of Group Finance Director with effect from 5 June 2006. Steven Glew has an excellent record of delivering successful change programmes within quoted companies, most notably at Mothercare plc and Booker plc. Peter Fitzwilliam will relinquish his role as Group Finance Director and step down from the Board on 2 June 2006.

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Business Post preliminary announcement of unaudited accounts

Business Post Group plc announces unaudited results for the year ended 31 March 2006 in line with the Trading Update of 31 March 2006. Revenue increased by 19% to GBP 278.2m and profit before tax and exceptional items totalled GBP 11.7m with reported pre-tax profit at GBP 5.0m. Underlying trading was in line with expectations. The Board remains confident of the Group’s long term potential and the prospects for recovery. Accordingly, the Board proposes a final dividend of 10.8p. Parcel services (Express; International; HomeServe) increased revenue by 5% to GBP 195.8m, but pre-exceptional operating profits declined by 43% to GBP 17.4m; operating profit was GBP 11.1m. UK Mail made further excellent progress, increasing revenue four-fold to GBP 40.4m representing 15% of Group total; operating profit was GBP3.2m. Specialist Services (UK Pallets; Courier) made good progress, increasing revenue by 18% to GBP 41.6m. Operating profit was GBP 2.1m.

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UK Royal Mail refuses to comment on US talks

Royal Mail yesterday described a report that it is in talks with the US companies Fedex Corporation and UPS over an alliance with its pan-European parcels business General Logistics Systems as “speculation” and declined further comment. The Sunday Times reported Royal Mail was in talks with the two US companies over what it described as a ground-breaking European alliance. It said chairman Allan Leighton was still undecided which of the two companies to choose but was keen to use GLS to break into the postal markets in France and Germany.

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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.

 

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