Martin Vial says La Poste will rank in world top 3 within 10 years

Martin Vial, chairman of the French post office (La Poste), has said in a recent newspaper interview that 2001 was an “extremely difficult” year for the group, with lower operating profits than in previous years because of slower growth than anticipated in courier activity as well as the effects of September 11 and an increase in transport costs. The transition to the euro and the reduction of working hours also played a part.

Mr. Vial said it would be “very difficult” for the post office to join the alliance being formed by Caisse des Depots, the French institutional investment authority, and French bank Caisses d’Epargne. However, he added that La Poste would seek other partners. Finally, Mr. Vial said he aimed to see the post office among the world’s top three postal groups within 10 years.