Royal Mail PLC Royal Mail response to Ofcom proposal (3177Z)
May 25 2016 - 10:26AM
UK Regulatory
TIDMRMG
RNS Number : 3177Z
Royal Mail PLC
25 May 2016
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 GBP500 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
This information is provided by RNS
The company news service from the London Stock Exchange
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