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The Royal Mail
The Royal Mail is losing almost 2p on every letter it delivers for rival firms, new financial figures have shown.
The postal organisation went into the red for the first time in six years on its first and second and bulk business mail, incurring an operating loss of £12 million in the last financial year.
The figures, revealed in the Royal Mail's regulatory accounts, also showed that the Royal Mail delivered 2.4 billion items for rival firms following the growth of competition in the postal market.
The Royal Mail was paid 13p per letter, but lost almost 2p on each item.
Royal Mail's operating costs were up by £181 million at almost £6 billion, the figures showed.
The group is involved in a bitter dispute with the Communication Workers over pay and jobs which has led to a series of strikes in recent months.
Talks between the two sides are being held in a bid to resolve the row and avert the threat of further action.
Copyright Press Association 2007
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