25 May 2016 16:26
Royal Mail plc
25 May 2016
Royal Mail responds to Ofcom's proposals for the regulation of Royal Mail
Royal Mail welcomes Ofcom's finding, as part of its Review of the Regulation of Royal Mail, that customer satisfaction with postal services and value for money is high. Ofcom also notes that, following price increases introduced in 2011-12 and 2012-13 in order to return to profitability, our price increases have been broadly in line with RPI. In relation to efficiency, Royal Mail has a stretching efficiency programme in place and is targeting to avoid around £500 million of annualised costs by 2017-18. Ofcom's review also demonstrates that there is strong competition in the access market.
Royal Mail will actively participate in the consultation process, including providing a detailed, evidence-based submission to Ofcom.
ENDS
Contacts:
Investor Relations:
Catherine Nash
Phone: 020 7449 8183
Email: investorrelations@royalmail.com
Media Relations:
Beth Longcroft
Phone: 07435 768549
Email: beth.longcroft@royalmail.com
Royal Mail Group press office: 0203 338 1007