LTB 299/18 - Royal Mail’s Financial Results 2017/18
No. 299/18
18th May 2018
Dear Colleagues,
Royal Mail’s Financial Results 2017/18
On 17th May Royal Mail published its financial results for the year ending 25th March 2018.
Overall the results showed that our members have again helped to deliver another solid performance against a difficult commercial backdrop. Group revenue is now over £10 billion for the first time, while adjusted operating profit before transformation costs were up 1% to £674 million.
In UKPIL revenue was unchanged – parcel revenue grew by 4%, while total letter revenue fell by 4%. UK parcel volume and revenue growth rates are expected to be at least the same in 2019.
Attached for your information is a detailed report from CWU Research which sets out the main highlights.
Any enquiries in relation to the content of this LTB should be addressed to the DGS(P) Department.
Yours sincerely
Ray Ellis
Acting Deputy General Secretary Postal
18LTB299 – Royal Mails Financial Results 2017-18 http://emails.cwu.org/t/d-l-bnmlk-ztkjiuyil-i/" onclick="window.open(this.href);return false;
LTB 299.18 – Attachment 1- Royal Mail Full Year Results 2017-18 http://emails.cwu.org/t/d-l-bnmlk-ztkjiuyil-d/" onclick="window.open(this.href);return false;
View Online http://emails.cwu.org/t/d-l-bnmlk-ztkjiuyil-h/" onclick="window.open(this.href);return false;
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LTB 299/18 - Royal Mail's Financial Results 2017/18
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TrueBlueTerrier
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LTB 299/18 - Royal Mail's Financial Results 2017/18
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crimson king
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LTB 299/18 - Royal Mail’s Financial Results 2017/18
Group revenue over ten billion and I had to fight my corner over half an hour's overtime the other day.
Sheesh.
Sheesh.
Sooner or later, a beat dog bites.
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Spedley
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LTB 299/18 - Royal Mail’s Financial Results 2017/18
Yeah, profits of £674M out of £10BN. Does anyone really believe that? We were paying £700M per year off the pension deficit a few years ago before the tax payer took the debt on ready for privatisation ( can't make it up! :) ), where does that money go now?
2016/2017 pre-transformation profits were £712M and after £575 vs this years £674 and £581 respectively.
It looks like £137M transformation costs last year and a fudged £93M this year just to give us a small paper increase for the share holders.
Does anyone know what the transformation costs are? I thought the modernisation cost £1.5BN and we were privatised so we could borrow the money to pay for it (not that we did, obviously). Anyway, modernisation finished last year iirc.
2016/2017 pre-transformation profits were £712M and after £575 vs this years £674 and £581 respectively.
It looks like £137M transformation costs last year and a fudged £93M this year just to give us a small paper increase for the share holders.
Does anyone know what the transformation costs are? I thought the modernisation cost £1.5BN and we were privatised so we could borrow the money to pay for it (not that we did, obviously). Anyway, modernisation finished last year iirc.