Parcel delivery falls short of target
DIE WELT 19th October 2001
PARCEL DELIVERY FALLS SHORT OF TARGET (PACKETPOST VERFEHLT RENDITEZIEL)
Deutsche Post’s parcel delivery service is expected to fall just short of its target for pre-tax returns (between 2.6 and three per cent). The EU Commission has forced it to create a separate marketing and sales company for business customers and the shortfall in earnings is being attributed to the cost of setting up the new division.
Peter Kruse, chairman of Euro Express, the parcel delivery arm of Deutsche Post, said that the new company would start up operations in January 2002. It will be based in Bonn and initially employ 1,000 workers. The express delivery business is expected to achieve a pre-tax return of five per cent by 2005. In the first half of 2001, it reported Ebita of 114m euros on turnover of 3.1bn.
Abstracted from Die Welt Abstracted from Die Welt in German FT McCarthy – Copyright 2001 Financial Times Information. Source: World Reporter (Trade Mark).
