LTB - POST OFFICE: INTERIM RESULTS – HALF YEAR TO 23rd SEP

[TrueBlueTerrier]

Letter to Branches




No: 877/12
Ref: 100
Date: 23 November 2012

TO: ALL BRANCHES WITH POSTAL MEMBERS


Dear Colleague,

POST OFFICE: INTERIM RESULTS – HALF YEAR TO 23rd SEPTEMBER 2012

I would like to advise Branches that the Post Office has announced its half yearly performance figures for the first six months of the financial year. This is the first time the Post Office has released a trading statement as an independent Government owned business, following the separation from Royal Mail Group earlier this year.

The trading statement from the Post Office, along with the press release and the CWU press release are attached to this LTB for your information.

Overall, the results were encouraging and the highlights are as follows:

Turnover increased by 3.3% to £501m (vs £485m in H1 2011/12)
Operating profit (including the Network Subsidy Payment) before exceptional items increased by 8.9% to £61m (vs £56m in H1 2011/12)
Mails performed particularly strongly, with an increase in packets and premium mails products (including Special Delivery)

The increase in turnover and operating profit would not have been possible without the hard work, loyalty and dedication demonstrated by the employees of the Post Office – our members, and I would like to thank all members working in Crown Offices, Supply Chain and Admin, together with our Postmaster members in Sub Post Offices for their continued efforts.

It is now nearly eight months since the pay date for Crown staff of 1st April and our members are still waiting to be recognised for their commitment in a tangible way. The Post Office should now share the benefits of its achievements. Indeed, the long term success of the Post office requires a totally engaged and valued workforce. This simply will not happen if our members are not rewarded with a fair and decent pay rise. The Post Office must acknowledge this fact, and without further delay, provide its employees with the pay increase they deserve.

Finally, I would like to draw to your attention two further documents; the first relates to Crown Office pay and was featured in the latest edition of The Voice (attached below) and the second covers the Post Office's improved financial position and this was published in today’s Guardian (link below). I would urge Branches to ensure that these two press stories are brought to the attention of our members working in Crown Offices.

http://m.guardian.co.uk/business/2012/n ... pe=article" onclick="window.open(this.href);return false;




If you have any enquiries in relation to this LTB, please email csinclair@cwu.org.

Yours sincerely


Andy Furey
Assistant Secretary