Hounddog, thanks for the update. Are you definitely sure that RM ate purchasing their EVs outright and not leasing them? From a meeting last year at one of the RM Vehicle Services workshops there was some concern regarding outsourcing for maintenance of the new EVs and I wasn't sure if this was because of potential purchase or lease scenario?
So, presumably the fact that Ben2020 has claimed compensation has passed your moral compass test?
Surely it would be discriminatory to have one set of your morality rules for some customers and another set for other customers, because when I go to a Post Office and pay for a service that's exactly what I am....a customer.
The fact that you cannot get your head around that speaks volumes about you.
Redceo, you really do need to get over yourself on this issue and it seems that I have been living in your head rent free over this issue for quite a while.
It happened so get over it and stop being such a melt.
Thanks Derek, I knew that the fleet was fairly large but I didn't realise how large. Yes, providing 38,000 EVs and the necessary infrastructure within the next sixteen months will certainly be a challenge so I suspect that we're looking towards the end of 2025 now?
Redceo, "However I see your action as a lack of character".
You can rest assured that it wasn't only me, however it's completely in character for me to take advantage of a large national company that had failed to get it's house in order.
I will therefore thank you for your compliment....
Redceo, I did indeed claim compensation for Special Delivery items that were failing and I make no apologies for doing so, however although it's a reassuring policy for customers it's not a policy that RM should be happy about paying out for.
Having a competent BoD and senior management is key in what has become a very competitive market in a tough financial environment so paying compensation unnecessarily is a double whammy and will inevitably affect the shareholders.
Derek, it's interesting to note that the RM EV fleet has now exceeded 4,000 vehicles. Presumably these are small wheels vehicles for deliveries so don't include job needs vehicles for managers?
It would be interesting to learn the current fleet size for small wheels and whether the business is on track to complete this project by the end of 2024, plus there is the small task of supplying all the necessary EV charging points.
ShortWhacker, if you are an IDS shareholder and the availablity of genuine postage stamps is your only concern then you are very lucky indeed. Personally, I am more interested in the minutiae such as "how much is the UK operation going to have to fork out to upgrade their ageing fleet to electric vehicles" as promised by the BoD a few years ago?
Yes, I suspect that Suella Braverman could do with an extra pair of hands when it comes to headcount reduction.....lol
How has it reached the stage where the UK Government is incapable of acting on their own immigration policies?
Newdealz, you may well be correct but only time will tell.
The one takeaway that I have from this stock is that it usually acts in a contrary manner so I have learned to "expect the unexpected" as indeed have many others....
Elphi, my take is that this stock is going to fluctuate in the 250p to 275p range until a significant announcement is made by the business or until the next trading update. If there is any news of a future dividend then I would expect this to breach the 300p area fairly quickly, however before this happens, the business needs a period of stability in order to regain it's composure. A long term hold for me now.
"Analysts at the brokerage said there is still time to mitigate the risk of making the wrong appointment by hiring a CEO with an appropriate record in delivering restructuring of a unionised business."
I think that this is key and it will be interesting to see who RM can attract.
The other concerning thing that needs addressing is "Royal Mail has not grown revenue by more than 1% in any year since privatisation.”
The article states....."It has regularly struggled to break even.......in the year to 30 June 2021 - the last for which results are available at Companies House - LGH reported a pre-tax profit of £17.6m, against a loss of more than £35m the year before".
Given that their UK employee cost per employee is almost certainly a lot lower than Royal Mail, how are they not making more profit?
Good advice Maximas.
In days gone by, RM were very cautious about surcharging slightly overweight or oversized items unless it was obvious as we didn't want to upset the customer and lose business. Indeed, the Snapfish items that we process through our sorting machines are often not "machinable" due to their stiffness however we still offer a decent discount and have to alter the machine settings to cope albeit at the cost of reducing the lifespan of some machine components such as belts and requiring extra maintenance.
Newdealz, is it possible that your item could have "changed shape" during it's journey? By that, I mean if the sides of the item have become flattened and bulged as a result of being squashed then it could fall into the next size category? I occasionally post items that I have sold online and I use our local post office (as our mail centre callers office doesn't issue printed receipts) but if I suspect that there could be cause for discrepancy then I ask the shopkeeper to put the item back on the scales with the label attached and take a photo with my phone.
Perhaps you could ask the recipient to take a photo and send it to you when it arrives?
Newdealz, unfortunately the copy and paste was too many characters. Fortunately Maximas managed to get more text in.
The statement was released about ten minutes earlier on WhatsApp and my immediate thoughts were that this hasn't fully gone away despite a positive mandate from the members.
Personally, I don't have any skin in the game regarding the union as I will be officially retired before the September pay date for the 6% although I might just manage to scoop up the £1,400...... kerching.......