Author: Archive

Parcel services hit Business Post

Posted by | May 24, 2006 | |

Business Post reported a 74 per cent fall in pre-tax profit after persistent problems at its core parcel services business. The company, which has issued four profit warnings in 16 months, said pre-tax profit fell 74 per cent to Pounds 5m for the year to March 31, in line with expectations. Sales rose from Pounds 233.3m to Pounds 278.2m. Its shares rose 31 3/4p to 379p yesterday. Guy Buswell, the chief executive brought in last December to turn the company round, said: “This is not great news on a numbers basis but we have done a lot since January and I have absolute confidence in the recovery.”

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FedEx reported to buy US Watkins

Posted by | May 24, 2006 | |

FedEx is preparing to buy Watkins Motor Lines, the largest privately held LTL carrier in the country, according to a published report. The Memphis Commercial Appeal, citing unnamed sources, said the companies were planning to announce as soon as June 1 a purchase that could be worth some USD1 billion and add 139 terminals and a network that stretches across the country to its FedEx Freight trucking business. FedEx officials did not immediately return calls for comment. Watkins had an estimated USD1.01 billion in revenue last year and was the No. 15 trucking company in the United States based on revenue, according to the consulting firm SJ Consulting.

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DHL to expand its business activities in Russia

Posted by | May 24, 2006 | |

Deutsche Post World Net today announced its strategic initiatives for Russia. Through investments in excess of 250 Million USD within the next four years, DHL will continue its positive development in the express and logistics business in Russia. This announcement was made by Dr. Klaus Zumwinkel, Chief Executive Officer and Chairman of Deutsche Post World Net at a press conference in Moscow. “Russia is a very successful market for DHL and we see great prospects for the future,” said Dr. Klaus Zumwinkel. “Russia is an important part of our global growth strategy. The planned investments demonstrate our confidence in the high potential of the Russian economy and the express delivery and logistics market in particular”.

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Post split approved in China

Posted by | May 24, 2006 | |

China’s cabinet has approved a plan to reorganize the State Post Bureau by splitting off its banking component and creating one of the nation’s largest lenders, according to a banking regulator. The new bank, called the China Post Savings Bank, will specialize in ”retail banking and intermediary services and serve the local community and rural areas with its extensive network,” Cai Esheng, vice chairman of China Banking Regulatory Commission, said on Tuesday.
China’s government is trying to split commercial businesses from government bodies to prevent corruption and fraud, as the nation fully opens its financial markets to overseas investors by the end of this year. China Post currently collects and delivers mail, takes deposits, issues stamps, sells policies for insurance companies and handles bill payments.

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Lockheed Martin awarded contracts to improve US Postal Service mail processing system

Posted by | May 24, 2006 | |

Lockheed Martin has been awarded two contracts totaling USD9 million from the US Postal Service (USPS) to upgrade and increase the processing capability of the Remote Computer Reader (RCR) system. The Remote Computer Reader upgrade will provide additional capacity to handle processing during peak periods. The additional capacity will allow the USPS to sort more mail and create more flexible mail processing options, which are extremely beneficial during the holiday season.

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TNT Post retains GLA distribution rights for The Londoner

Posted by | May 24, 2006 | |

The Greater London Authority is to continue its contract with TNT Post for the door-drop distribution rights for free newspaper The Londoner for the third consecutive year, in a deal worth GBP1.3m. The 12-month contract was awarded after what Greater London Authority described as a “competitive tender process against competing distributors”. Charles Neilson, managing director at TNT Post said: “The renewal of the contract for the third year running clearly demonstrates our continued ability to provide an unrivalled, high-level service.”

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