GeoPost blamed for losses at La Poste
La Poste, the French post office, has announced results for 2001 characterised by the amortisation of 170m euros. This is mainly the result of a poor performance from its logistics and parcels subsidiary GeoPost. La Poste’s net profit would have reached 75m euros if Geopost’s losses had not been included in the accounts.
La Poste acquired German courier service DPD for 457m euros and a 67 per cent stake in its French subsidiary DPD France for 21m euros in 2001. The French group’s turnover rose by 30.8 per cent to 2.94bn euros last year. It is the third largest operator in the EU after Deutsche Post and TPG of the Netherlands.
