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Bid speculation delivers red-letter day for UK Business Post

Posted by | Nov 4, 2005 | |

Troubled parcels group Business Post enjoyed a much needed boost yesterday, surging 13pc to 413.5p at one stage, on the back of takeover speculation. The shares have slumped from 652p since the company sounded a profits warning in September, and have been weighted down further by worries that the group is at risk of falling out of the FTSE 250 in next month’s quarterly reshuffle of the index. Yesterday, the shares ended the day up 35 at 400p. Rumours initially circulated that the group could be gobbled up by Deutsche Post, although sceptics said the German company already had its hands full with the acquisition of logistics group Exel. Traders then cited US delivery group FedEx as a potential predator, saying the two companies already have a partnership.
However, sceptics said that the bulls could just be trying to push the shares higher following the recent slump in the stock. They also added the stock was tightly held by the founding Kane family, and any takeover would need the family’s support.

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CECEI to examine plans for French postal bank

Posted by | Nov 4, 2005 | |

The French committee of credit institutions and investment companies (CECEI) is to examine the request for approval for the future French postal bank, Banque Postale, for the first time on November 10. The postal regulation law passed on May 20 allows La Poste, the French postal service operator, to set up a banking subsidiary by 1 January 2006 at the latest. The members of the CECEI received an invitation yesterday regarding an extraordinary meeting. No details of the agenda have been given, but plans to create a postal bank are to be examined.

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Pall-Ex posts 500 PoD sets

Posted by | Nov 3, 2005 | |

Rivalry among pallet networks is set to focus sharply on IT, with news that Pall-Ex is sending out 500 tracking and electronic proof-of-delivery sets to drivers this week.
Pall-Ex owner Hilary Devey says that the network will give customers nationwide coverage by the end of November at the latest, with all collection and delivery vehicles using the devices.

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Deutsche Post Q3 EBIT 560-860 mln eur vs 484 mln eur

Posted by | Nov 3, 2005 | |

Deutsche Post AG will report next Thursday that third quarter EBIT rose to between 560-860 mln eur from 484 mln, as strength in logistics and financial services operations compensated for weakness in its domestic mail operations, analysts said.

They expect third quarter sales to reach between 11.040 and 11.881 bln eur, up from 10.669 bln eur.

Third quarter net is seen between 290 and 408 mln eur, up from 169 mln, analysts said. They noted that part of this increase stems from accounting changes, as Deutsche Post’s EBIT figure benefits from the discontinuation of goodwill amortisation, which carries through to the bottom line.

During the 2.00 pm CET conference call, analysts will focus on Deutsche Post’s efforts to integrate its DHL express operations in France and the UK.

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Irish An Post braces itself for strike

Posted by | Nov 3, 2005 | |

Management and unions at An Post are bracing themselves for the start of industrial action tomorrow despite the intervention of the Government’s partnership watchdog in the dispute.

The National Implementation Body (NIB) invited both parties to separate talks at Government Buildings yesterday.

The body wants to broker a way out of the impasse with a two-week notice for strike action lapsing tomorrow afternoon.

The threatened strike by 8,500 Communications Workers’ Union (CWU) members is over the company’s refusal to pay the full increases due under the partnership agreement, Sustaining Progress.

The Labour Court recommended in July that the increases be paid provided postal staff agreed to a range of work practice changes in the company’s collection and delivery service.

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APX Logistics US appoints new Director of Postal Affairs

Posted by | Nov 3, 2005 | |

APX Logistics, a leading provider of business-to-consumer shipping solutions, is pleased to announce the appointment of Chester A. “Chet” King as Director of Postal Affairs.

“Chet’s past experience with the United States Postal Service has prepared him to take on this new and critical role as Director of Postal Affairs for APX Logistics. As a core member of the initial team that organized the Expedited/Package Service Business Unit in 1997, he truly understands the tremendous opportunities that exist in the package delivery market,” said Brad Garberich, CEO of APX Logistics.

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