Royal Mail PLC Direct delivery competition: regulatory submission (1444K)
20 Juni 2014 - 11:35AM
UK Regulatory
TIDMRMG
RNS Number : 1444K
Royal Mail PLC
20 June 2014
20 June 2014
Direct delivery competition: regulatory submission
Royal Mail plc. (RMG.L) has today made a formal evidence
submission to Ofcom setting out the threat to the universal postal
service posed by unfettered direct delivery competition. It
requests that Ofcom commences an immediate review of direct
delivery and determines quickly the regulatory changes needed to
safeguard the universal service. The submission is published at
www.royalmailgroup.com/directdeliverysubmission
The regulatory submission follows Royal Mail's previous
statements on direct delivery competition. These include a detailed
response to Ofcom's October 2012 consultation 'End to end
competition in the postal sector - Draft guidance on Ofcom's
approach'; a statement on direct delivery competition in December
2013; and an update in Royal Mail plc preliminary results for the
full year 2013/14, published in May 2014.
Based on our estimates of the impact of TNT Post UK's
publicly-stated plans, this could reduce Royal Mail revenue by over
GBP200 million in 2017-18. Our analysis indicates that the
underlying economics of the UK postal market would create strong
incentives and opportunities for TNT Post to achieve a wider
roll-out and larger market share than its current publicly-stated
plans suggest. Absent intervention from Ofcom, our analysis
indicates that our ability to reach a 5-10% EBIT margin for the
Reported Business sustainably in the future would be
undermined.
ENDS
For more information contact:
Media Relations
Neil McCrae
Phone: 07776 995738
Email: neil.mccrae@royalmail.com
Mish Tullar
Phone: 07423 524154
Email: mish.tullar@royalmail.com
Candice Macdonald
Phone: 07436 267324
Email: candice.macdonald@royalmail.com
Investor Relations
Catherine Nash
Phone: 020 7449 8297
Email: investorrelations@royalmail.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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