The Group is organised into three businesses: UK Letters & Parcels and International (UKPLI), Post Office Limited and General Logistics Systems B.V. (GLS).
Customers are at the centre of everything we do within the Group. Our main aim is to be the most trusted delivery brand in the UK which provides the Universal Service for our customers the length and breadth of the country. We also want to be seen as the premier European and UK express parcel businesses, offering excellent customer service.The Group also wants to sustain and grow the Post Office commercially while maintaining its key role as part of the UK’s social and economic fabric.
- The Group made a £39 million (2009-10: £180 million) operating profit after modernisation costs. This was primarily due to a decline in revenues.
- Total revenues declined to £9.2 billion mainly because of a 4% fall in core mail volumes,(2009-10: £9.3 billion). The profit margin, after modernisation costs, fell from 1.9% (2009-10) to 0.4%.
- The UK Letters & Parcels and International business lost £120 million in 2010-11, (2009-10: £20 million profit). Revenue decline was mainly driven by a fall in volumes. This is just over £2 million a week.
- Profits at the Post Office declined from £33 million to £21 million as a result of lower revenues from traditional business. The Post Office is embarking on plan over the next four years based on the Government’s confirmed funding commitment of £1.34 billio
- General Logistic Systems (GLS) remains highly profitable and grew operating profits by 5.3%.
- Total operating costs have decreased from £9 billion to £8.9 billion in 2010-11. Tight cost control, including a reduction in head office personnel and a procurement initiative contributed to this performance.
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