Author: Archive

UK Royal Mail argues for 48p stamp, saying letters are a drain

Posted by | Jul 28, 2005 | |

Royal Mail lost more than GBP200m last year on post that weighed under 100g, the company’s regulatory accounts showed yesterday. This is the category of mail that is regulated by the government-appointed regulator, Postcomm, and represents the organisation’s monopoly area, which is about to be removed completely. Chairman Allan Leighton said that the figures illustrated Royal Mail’s problem. “Ninety percent of what we do loses money” he said.
Mr Leighton is fighting a Postcomm price control proposal that would cap first and second class stamps at a level he says is unsustainable. He said yesterday that the prices need rebalancing, because customers sending heavy parcels are subsidising lighter mail.

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Italian Post Office unveils 3-year targets

Posted by | Jul 28, 2005 | |

The board of directors of the Italian post office, Poste Italiane, has been presented with the organization’s development plan for 2006-2008. Its targets include a 3.5 per cent rise in consolidated turnover, to 10.38bn, 10 per cent growth in Ebit, to 1.2bn euros, and an Ebitda up 5 per cent, at 2.2bn euros, over the three-year period. More generally, Poste Italiane is aiming to develop its financial services to the point where its BancoPosta subsidiary becomes Italy’s biggest ‘bank’ by customer numbers and to increase its share of Italy’s express parcel service market. While unveiling the three-year plan yesterday, Poste Italiane’s managing director, Massimo Sarmi, said that the Bank of Italy has ordered his organization to keep separate accounts for its BancoPosta business, on the one hand, and its postal services, on the other. He also pointed out that Poste Italiane has only a 1.4 per cent share of Italy’s 30.2bn-euro market for parcel services, compared with 18.2 per cent for Deutsche Post World Net and 12.2 per cent for TNT.

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Deutsche Post World Net EBIT increase by more than 10 percent

Posted by | Jul 28, 2005 | |

In the first six months of 2005, Deutsche Post World Net increased its profit from operating activities (EBIT) by 10.6 percent to about 1.7 billion euros. At 21.5 billion euros, revenue rose slightly compared with the first six months of 2004. First-half net income amounted to 939 million euros compared with 721 million euros in the same period a year earlier. Earnings per share increased from 65 euro cents to 84 euro cents. In the second quarter, net income grew by 76 percent from 275 million euros in the year-earlier quarter to 484 million euros, or 43 euro cents per share.

“Our development in the first six months shows that we are on the right track,” said Chairman and Chief Executive Officer Klaus Zumwinkel. “I can confirm once again that we will reach our earnings target of 3.6 billion euros for this year.”

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Deutsche Post outlook boosted by DHL

Posted by | Jul 28, 2005 | |

German mail and logistics company Deutsche Post said on Thursday second-quarter operating profit rose 21 percent, boosted by its DHL express and logistics units, and reiterated its annual goals. Earnings before interest and tax (EBIT) rose to 781 million euros (USD942 million) in the second quarter from 647 million euros a year earlier. Net profit rose 76 percent to 484 million euros. Deutsche Post reiterated that it expects 2005 operating profit of at least 3.6 billion euros as it benefits from continuing growth in world trade. That compares with full-year EBIT of 3.35 billion euros in 2004. Earnings this year benefit from the end of amortization under international accounting rules and a lower tax rate. Quarterly sales increased 4.4 percent to 10.96 billion euros from 10.5 billion in the second quarter of 2004. The company is investing USD1.2 billion in DHL in the United States, where it is vying for a larger share of the domestic market with FedEx Corp. and UPS.

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UPS to sponsor 2008 Olympic Games in Beijing

Posted by | Jul 27, 2005 | |

To support its rapidly growing presence in China, UPS announced today that it has been selected as the Official Logistics and Express Delivery Sponsor of the Beijing 2008 Olympic Games. The agreement was signed today in Beijing in a ceremony hosted by The Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG). Under the agreement, UPS will provide logistics consultation and management to BOCOG, and assist BOCOG to develop and execute the logistics operating plan for the Beijing 2008 Olympic Games. UPS also will provide express delivery services to venues during the Games.

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UK Royal Mail prices still do not reflect costs of handling mail

Posted by | Jul 27, 2005 | |

New figures from Royal Mail show that the company has been unable to make much progress in rebalancing postage prices to reflect the real cost of collecting, sorting and delivering 84 million items of mail to the UK’s 27 million addresses every working day. Without the rebalancing, Royal Mail will not be able to compete fairly when the market is opened up to full competition on 1 January 2006. This imbalance arises because stamp prices are currently subsidised by business prices and pricing is currently driven by weight, whilst cost is driven mainly by size – so heavier items continue to subsidise lighter items.

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TNT Q2 net to rise 10 pct, to announce France restructuring details

Posted by | Jul 27, 2005 | |

TNT NV is expected Friday to report higher net profit over the second quarter, and announce details of a restructuring operation at its Logistics France division. TNT had earlier announced its intent to reorganise, but said it would give details during the second quarter earnings presentation. Net profit is expected to come in at the 211-221 mln eur range, from 210 mln eur a year earlier, with revenues rising to 3.34-3.39 bln eur, from 3.05 bln eur previously, according to analyst forecasts compiled by AFX News. Kempen & Co analyst Charles Estourgie expects the Mail and Express divisions will show sustained growth, but said focus should be at Logistics France.

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