Tag: UK

UK stamp price changes from April 2006 will better reflect costs of handling mail

Posted by | Jan 17, 2006 | |

A basic First Class stamp will rise by 2p to 32p from 3 April 2006, Royal Mail confirmed today. The rise, which was indicated in Postcomm’s price control announcement last month, remains subject to alteration if Royal Mail does not accept the regulator’s overall price control, which is currently out for consultation. A decision on this will not be taken until the beginning of March 2006. The price of a basic Second Class stamp will also rise by 2p to 23p, subject to the same condition. First Class franked mail and items carrying a printed postage impression (PPI) will continue to get a 1p discount for items up to 60g compared to the price of stamped mail. For the first time, this discount will also apply to Second Class franked and PPI mail, Royal Mail announced today.

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GBP1m up for QuorumValue – Nightfreight PLC gains customers

Posted by | Jan 16, 2006 | |

Nightfreight says that its QuorumValue product, launched in July last year, has done more than (pounds sterling)1m-worth of business from 858 customers in less than six months.

The service is aimed at a mix of consignment types that might otherwise be split among customers. A typical mix might include satchels, standard parcels and packages, IDW (irregular dimension and weight) consignments and pallets.

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UK rural post offices sweat on funding as Government drops consultation

Posted by | Jan 15, 2006 | |

The Government has backtracked on a pledge to hold a public consultation over the future funding of 8,500 rural post offices before a spring deadline on what to do about them. The Government has spent pounds 150m a year since 2003 supporting rural branches, many of which are in remote locations and have little business. The payments, however, are due to stop in April 2008, at the end of a two-year “notice period” that must be served by the Government. After requests from interested parties, such as Postwatch, the consumer watchdog, and the charity Age Concern, stakeholders were told by the Government that a “full and public” consultation would be held ahead of the two-year notice period.
But a senior source at the Royal Mail said the Government has since changed its mind and no longer plans to hold a consultation before the April deadline. “The original plan was [to hold it] but now they are not so sure about what they are consulting on,” he said. A spokesman for the Department of Trade and Industry insisted a consultation would still go ahead but was unable to say when.

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CSFB hired for UK Royal Mail rights issue

Posted by | Jan 15, 2006 | |

The investment bank CSFB has been hired by the Department of Trade and Industry to help advise on a Pounds 2 billion rights issue at Royal Mail. The details of this cash-raising have now been lodged with the government and will be examined by experts at the investment bank. Part of the proceeds will be used to reduce the postal group’s Pounds 2.5 billion pension deficit. The restructuring proposal includes giving 20% of Royal Mail’s equity to its workers.

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