Post Office puts out first results for 370 years

[TrueBlueTerrier]

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THE Post Office has today published its first trading statement in its 370-year history following its split from the Royal Mail earlier this year.

The government owned business, which is the largest retailer in the country, became an independent business for the first time in April after its historic divorce from Royal Mail.

The company has today issued its first trading statement as a standalone business, reporting a nine per cent increase in operating profits from £56m to £61m for the six months ending 23 September.

The figures are flattered by a government subsidy the business receives, which increased by £13m to £103m for the half year.

In total, the Post Office is set to receive £1.34bn from the government until March 2015.

The business has pushed on with plans to become the so-called “Front Office of Government” since its split from Royal Mail, securing a seven year deal with DVLA to offer car tax discs and driving licence sales.

Turnover was also boosted to £501m up from £485m on the back of strong growth in its postage division.

This included an £8m item from sales of Team GB Gold Medal stamps during both the Olympic and Paralympic Games over the summer.

A spokesman said the firm hoped to release a full set of financial accounts in the future.

POST OFFICE FACT FILE

■ 99.7 per cent of the UK population is within three miles of a Post Office.
■ 11,799 branches are currently open and trading, making it the UK’s biggest retailer.
■ Receives 20m visits from customers at its stores every week.
■ Sixth largest telephone and broadband provider in the country.
■ Handles 15bn addressed items every year working with Royal Mail.

[LinChong]

"A Communication Workers Union spokesman said: "The Post Office results are good so we now want the company to reward staff for contributing to this success.

"Over 4,000 Crown Office staff have been waiting for a pay rise since April while other people in the organisation have had increases.

"Now that we all know the Post Office finances are positive we hope that management will reward the staff who have been so instrumental in making the Post Office a success."

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I hope the Fuhrer doesn't forget Supply Chain PAs. All of his gang are counters reps.

Swindon Pay for Supply Chain PAs and save the PO grade (the Fuhrer's gang have let management get away with giving PO work to non-union favourites who are happy to do it for PA pay because they are made to feel special).

[capitalbiker]

And dont forget that many on the customer facing side of the network havent seen an increase from POL for far longer than since April, and face rising costs for provision of that facility.
NT is a con and only saves money for POL

[aliofashy]

And now show they have balls and pay the £100 colleague share we are all owed. Royal Mail paid their staff months ago, stop stalling and do the decent thing.
Why should we lose out because our newco won't recognize we all worked for the same company at the time of the share debacle.
They really should have done something about this and Christmas would have been a good time. SHAME ON YOU POST OFFICE