Yes, they are, there are no shareholders, no owners to answer to, the RM has never lost money but Leighton and Crozier just took out £1.37m each this year, why ???
They have made no impact on the business, it's always made money and always will.
Even when they claimed we were losing £1m a day, it was propoganda, RM went on a campaign of modernisation, they installed Sunrise, a payment system into every PO nationally, it cost hudreds of millions, the Government then announced all benefits/pensions/giros would now be paid direct into banks, Sunrise was defunct, never used and RM announced profits that year.
The folowing year we still made huge losses, they went on an international spending spree and spent hundreds of millions on overseas postal businesses that were crap, they sold all six of them off a year later, announcing losses of hundreds of millions.
Leighton came on board, all this expansion modernisation stopped for a couple of years and ooh, back in profit, so now we are on the expansion/ modernisation route again.....................................
Go figure..........................
