§ Mr. YeoTo ask the Secretary of State for Trade and Industry how much the accumulated surpluses of Royal Mail Holdings were and how much were paid(a) in and (b) out of the surplus in each year since its formation. [86451]
§ Ms HewittThe company that is now known as Royal Mail Holdings plc was incorporated on 20 September 2000. It acquired all the shares in what was then Consignia plc on 26 March 2001. Movements in the accumulated surpluses during financial periods since that date are shown in the table.
Reduction in surplus (reserves) Accumulated surpluses (reserves) 26 March 2001 3,299 953 31 March 2002 2,346 478 29 September 2002 1,868 Note:
The reductions in the accumulated surpluses were due to exceptional items.