Royal Mail asks to hike prices

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ref="http://www.cityam.com/company/royal-mail">Royal Mail has asked the postal regulator for permission to hike prices on business mail products for one year only, in order to generate extra revenue of up to £100m. Royal Mail chief executive Moya Greene said the firm was asking for the chance “to charge a fair price to other companies who use our network to carry mail and to end what is, in effect, the very substantial built-in subsidy which our rivals have enjoyed for years”. The firm made a £157m operating loss last year on “access mail”, collected by rivals but delivered by Royal Mail, amounting to an average loss of 2.5p per item.