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Article: Post Office's profits top pounds 470m
- Article from:
- The Independent (London, England)
- Article date:
- June 14, 1995
- Author:
CopyrightCopyright 1995 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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MARY FAGAN
Industrial Correspondent
The Post Office yesterday promised a price freeze on letters
until at least next March as profits soared by more than half to a
record pounds 472m.
The freeze was immediately attacked by the Mail User's
Association which called for a cut of at least 1p a letter. The
Post Office said that this would cost millions of pounds a year and
ignore the challenge of increased competition and the speed of
technological change in the marketplace.
Michael Heron, chairman, said: "We will continue that freeze as
long as we can."
The Post Office also repeated earlier warnings that 15,000 jobs
could go over the next five years as the result of new technology,
from a ...