Posting profits

I note with interest from your report, “Royal Mail on privatisation trail after big rise in profits” (22 May), that Royal Mail has ­reported pre-tax profits of a record £324 million in the year to March 2013, something like double the previous year’s figures.

What I cannot understand (and would like to have 
explained) is why there is this immediate cry for privatisation from both commercial interests wishing to make a fast buck for private investors, and from the government itself, in the shape of the Department for Business, 
Innovation and Skills.

I note also that the front-runners to lead the privatisation process are some of the world’s biggest banks. I thought banks were supposed to be going back to basics after the all-too recent financial debacle caused by their own catastrophic failings.

If this business, estimated to be worth up to £3 billion, is and can continue to be so profitable, should the cry not be to keep Royal Mail as a publicly owned entity? This would ensure that any future profits don’t simply disappear into the deep pockets of private vested interests and are used for the benefit of the people of the present United Kingdom, or whatever format our country takes post 2014.

David M Steel

Springfield Terrace

South Queensferry