Author: Archive

Royal Mail's pension fund is another Pounds 1bn in the red

Royal Mail will reveal this week that its pension-fund deficit has swollen from pounds 4.4 billion to pounds 5.5 billion, a figure that will put further pressure on the government to pump extra money into the group. The huge rise in the deficit, which has resulted from an actuarial review on mortality rates, will accompany full-year results that will show profits rising to pounds 600m. To address the bigger hole in the pension fund, Royal Mail will have to increase its annual contribution from pounds 600m to pounds 800m. Allan Leighton, Royal Mail’s chairman, is due to meet Alistair Darling, the new trade and industry secretary, early this week to allay any concerns the government may have in funding a pounds 2 billion rights issue.

Read More

Ministers set to back investment for UK Royal Mail

Ministers are expected to give the go-ahead for public investment in Royal Mail, the state-owned postal operator, after being convinced by executives of the need for new technology and equipment. But a decision remains some way off on whether to endorse a controversial share-ownership scheme for company employees that has been proposed by Allan Leighton, its chairman. Royal Mail has been lobbying ministers, arguing that it desperately needs Pounds 2bn of fresh investment in new equipment to survive in a fully liberalised postal market. It has a Pounds 4.5bn pension deficit that executives believe could swell further. After long talks between the company and the Department of Trade and Industry and consultation with the Treasury, next week’s announcement of Royal Mail’s 2005 results is expected to provide an indication of the scale of probable government support and the conditions that will be attached. Talks between ministers and Royal Mail were said by one person close to the negotiations yesterday to be “fluid”.

Read More

Campost boss seeks to right wrongs in post offices

The Provisional Administrator of the Cameroon Postal Services, CAMPOST, Mr. Charles Tawamba, is on a campaign to rebuild confidence of customers in the various services of the corporation.It was within this perspective that the CAMPOST boss issued a release last week, reorganising the work schedule at some post offices in urban areas in the country.

According to the release, the main post offices in provincial headquarters, the Yaounde Central Post office, the Messa Post office, Douala Central post office and the Douala Akwa and Douala New Bell Post Offices now open their doors to the public from Monday to Saturday.

Read More

Seur Portugal expanding

Seur Portugal, the Portuguese subsidiary of the Spanish express mail service company Seur, increased its turnover in financial 2005 by 10% to EUR 29.93 million.

Read More

Spain-Tir increases turnover.

The Spanish transport and logistics company Spain-Tir, based in Barcelona, reported a 7.7% increase in turnover for financial 2005 over the previous year’s result, reaching EUR 220.28 million

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

Have you noticed a decrease of non-EU inbound parcel volumes since the implementation of the new €3 charge?

Thank you for voting
You have already voted on this poll!
Please select an option!


Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

 

Pin It on Pinterest