29 June 2001
Chief executive John Roberts said the group had produced 'disappointing' post-tax profits of only £66m, some £88m short of government targets.
But he said the disputes by workers over the past year 'were playing into the hands of competitors'.
He added: 'The damage to profits is self-inflicted and we have to stabilise industrial relations. It is important that our people understand that if we are not able to get it under control, there will be an impact on jobs.'
About 62,000 days were lost because of mainly unofficial industrial action last year, despite a £100m package to raise basic pay for staff.
PFjun2001
