§ Mr. Cockcroftasked the Secretary of State for Industry why downward adjustment to the revenue of overseas mails service of 6 per cent. for 1977 produced a reduction in the profit of 58 per cent.
§ Mr. KaufmanThis is a matter for the Post Office.
§ Mr. Cockcroftasked the Secretary of State for Industry if he is satisfied that the adjustments to the profit figures of overseas mails for 1977 and 1978 are consistent with the statements of the auditors on page 36 of the Post Office annual report and accounts for 1977–78.
§ Mr. KaufmanThe financial analysis of results by services and other information published in the supplementary statements is additional to the material subject to detailed audit and therefore is a matter for the Post Office.
§ Mr. Cockcroftasked the Secretary of State for Industry if he will issue a general direction to the Post Office to contain its profits on its overseas mails services to the target of 2 per cent. profit on revenue which is laid down for the post business.
§ Mr. KaufmanNo. The postal business target of 2 per cent. profit on turnover is set for the business as a whole. Within that target it is to be expected that different services provided for different markets will not yield precisely the same financial results. The precise mix of marketing and financial strategies to meet the Government's target is a matter for the Post Office.