Trading update

[pieoftheday]

My mate just showed me a bbc article stating that the company are indeed losing £1M a day.....The article is from 2002!!

About time they came up with a different number!

Alan Leighton was in charge then ? You could get a lot more for your £1 million back then so relatively speaking RM arnt doing too bad

[Barnacle]

Wasn’t Thompson brought in to halt losing £1m per day or is it per minute I forget?

Why hasn’t he been sacked yet?

[POSTMAN]

[Clappedoutpostie]

Don’t forget there’s plenty of money for bonuses to push through the next round of bad revisions.

[chrisj]

My mate just showed me a bbc article stating that the company are indeed losing £1M a day.....The article is from 2002!!

About time they came up with a different number!

I agree! Why does he keep saying '£1 million' a day,? He does not have to be that specific or repetitive about exactly £1 million a day.

It was actually £1.2 millions by some financial analyst a few weeks back...

He does get things wrong and I dont think he is a natural public speaker or author - probably why he likes 'sorts of' social media platforms

[DirtyHarry]

Those guys tell so many lies now, the truth is fast disappearing over the horizon.

[scotchy1962]

If you don’t see that mail and parcel volumes have dropped considerably I don’t believe you work for RM. It is the quietest January I’ve known in 20 years of being with the company. Worrying is right.

Not sure what planet you live on but my rural duty is not completed most days of the week, Monday and Tuesday i can sometimes complete but every other day is a failure. There's lapsing every day as well and they are about to implement the revisions, i also only work to time so things aint going to get better.

[Chitchat]

What I got from this was, despite the strikes parcels volumes are still up 5%. When taking out the equation the one off effect of the pandemic.

And yes letters are down, but what else did royal mail expect when it treats them with such contempt.

And the best way to make royal mail profitable is to not pay two different people to deliver letter/parcels to the same house. I know royal mail has an agenda to privatize profits and nationalise losses. But it's clear that a. The government aren't giving royal mail an easy ride and letting them water down the USO and b. They aren't gonna give financial assistance either.

[kazardaimenu]

So they have lost 295 million pounds in 275 days, with 200 million being down to the strikes. They then go on to repeat the claim that they continue to lose a million a day.

Surely if they were losing a million a day then it should have been 475 million - a million a day for 275 days plus the 200 million due to strike action.

Absolutely correct. The figures quoted don't add up. More lies?

We need the select committee to grill him over these numbers. Seems they are being plucked from thin air. Can RM supply a breakdown in how the strikes cost £10+ mil a day

[mjd24]

Parcel volumes down 21%. Don’t think Simon’s going to hit his 40% increase in parcels any time soon. Pity he has thrown all the money at parcels.

Parcel volumes up 5% compared to pre pandemic.

[anthonyok]

It is quiet but are they keeping stuff back to justify the revisions ? Always in Jan we have a hammering on the flats , should be even more volume of them with the xmas chaos ? somethings not quite right ?

[postieblueshirt]

If you don’t see that mail and parcel volumes have dropped considerably I don’t believe you work for RM. It is the quietest January I’ve known in 20 years of being with the company. Worrying is right.

not quiet enough to get my vr though

[Duesouth]

Parcel volumes down 21%. Don’t think Simon’s going to hit his 40% increase in parcels any time soon. Pity he has thrown all the money at parcels.

He has thrown money at these super hubs, 'which are going great', his words not mine.

If we don't have enough parcels going through these massive hubs then what's the point in these hubs. Simon had a dream last year, which is now turning into a nightmare.

Two main objectives for Simon & co is to make as much money as possible by stripping everything including our terms and conditions, and getting rid of the union. Hes already doing the first part and is really doing a great job by losing a lot of part time staff because there are better jobs out there.

[Seymour Buts]

It is quiet but are they keeping stuff back to justify the revisions ? Always in Jan we have a hammering on the flats , should be even more volume of them with the xmas chaos ? somethings not quite right ?

No. This holding stuff back stuff is nonsense conspiracy. What has happened is they've lost massive contracts, but are pushing revisions through on that basis. What happens when they win those contracts back? Which they will, once this dispute is resolved.

[kazardaimenu]

It is quiet but are they keeping stuff back to justify the revisions ? Always in Jan we have a hammering on the flats , should be even more volume of them with the xmas chaos ? somethings not quite right ?

No. This holding stuff back stuff is nonsense conspiracy. What has happened is they've lost massive contracts, but are pushing revisions through on that basis. What happens when they win those contracts backs? Which they will, once this dispute is resolved.

reverse revisions?