Business Post expects FedEX contract changes
Business Post Group PLC has warned that following the acquisition of ANC Holdings by FedEx Corp, it has has been informed of FedEx’s intention to terminate its contract as ‘Global Service Participant’ in the UK.
Business Post said the nature and timing of the exit of the contract is yet to be agreed, but ‘we expect the contract to be terminated by September 2007.’
The FedEx contract currently represents 6 pct of group revenues, it added.
The company went on to say that it does not expect any impact on profits for this financial year, adding that ‘once the nature and timing of the contract exit has been agreed, we will give guidance on the profit impact for future years.’
