{"id":59137,"date":"2024-05-26T06:43:25","date_gmt":"2024-05-26T06:43:25","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/26\/royal-mail-investigated-by-ofcom-for-missing-delivery-targets\/"},"modified":"2024-05-26T06:43:25","modified_gmt":"2024-05-26T06:43:25","slug":"royal-mail-investigated-by-ofcom-for-missing-delivery-targets","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/26\/royal-mail-investigated-by-ofcom-for-missing-delivery-targets\/","title":{"rendered":"Royal Mail investigated by Ofcom for missing delivery targets"},"content":{"rendered":"
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Royal Mail is being investigated by Ofcom after the service failed to deliver less than three quarters of first-class post on time in the last year.<\/p>\n

In its yearly financial results on Friday, Royal Mail’s parent company, International Distribution Services (IDS) said only 74.5% of first-class mail was delivered within one working day.<\/p>\n

Regulator Ofcom’s rules state 93% of first-class mail must be delivered within the timeframe, excluding Christmas.<\/p>\n

Ofcom said: “If it does not provide a satisfactory explanation and we determine Royal Mail has failed to comply with its obligations, we will consider whether to impose a financial penalty.”<\/p>\n<\/div>\n

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Last year, Ofcom fined the company \u00a35.6m for failing to meet<\/a> its delivery targets in 2022-23.<\/p>\n

Royal Mail’s released figures were delivered more than 24 hours late, after markets closed on Friday. <\/p>\n

The chief executive of IDS said the financial results showed Royal Mail’s losses narrowed to \u00a3348m – from \u00a3419m for the year ending 31 March.<\/p>\n

Martin Seidenberg said: “We have improved quality, won back customers lost during industrial action, controlled costs and delivered Christmas for our customers.”<\/p>\n<\/div>\n

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The results come as IDS waits for a potential buy-out offer from Czech billionaire Daniel Kretinsky.<\/p>\n

It reiterated it is “minded” to accept a proposed bid worth about \u00a33.5bn put forward on 15 May<\/a>.<\/p>\n

Business Secretary Kemi Badenoch said earlier this month that Royal Mail’s universal service obligation will need to be protected in any sale of the firm.<\/p>\n

IDS has previously said Mr Kretinsky agreed to offer a set of “contractual undertakings” to protect key public interest factors.<\/p>\n

It also said the proposal recognised Royal Mail’s status as a major part of national infrastructure.<\/p>\n

This would include commitments to Royal Mail’s plans to keep six-day-a-week first-class letter deliveries under the universal service, protect workers’ rights and keep the Royal Mail brand, as well as its UK headquarters and tax residence.<\/p>\n

Mr Kretinsky has until 29 May to make a firm offer.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Royal Mail is being investigated by Ofcom after the service failed to deliver less than three quarters of first-class post on time in the last year. In its yearly financial results on Friday, Royal Mail’s parent company, International Distribution Services (IDS) said only 74.5% of first-class mail was delivered within one working day. Regulator Ofcom’s […]<\/p>\n","protected":false},"author":2,"featured_media":59138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/342d\/live\/56674470-1a32-11ef-a13a-0b8c563da930.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[15352,14271,22533,2694,1392,2923,1133],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/59137"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=59137"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/59137\/revisions"}],"predecessor-version":[{"id":59139,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/59137\/revisions\/59139"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/59138"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=59137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=59137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=59137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}