Author: Archive

John Allen – Licking New Zealand Post into shape

Posted by | Apr 5, 2005 | |

New Zealand’s top postman, John Allen, is an enthusiast. A compulsive optimist. Last month he was out there again, all smiles and singing the praises of his “great enterprise” New Zealand Post.

That he was happy was understandable. Despite a continuing drop in his core business of delivering letters, the State Owned Enterprise had delivered yet another increase in net profits, up from NZD21 million in 2001 to NZD36.5 million last year and NZD40.4 million in the first six months of this year.
Allen’s succession to the chief executive’s chair at NZ Post in 2003 may have been ordained, but it wasn’t without incident. Remember Post’s international consultancy Transend and ACT MP Rodney Hide’s hounding from office of board chairman Ross Armstrong for what Hide called perk abuse? Tainted by association, it took the gloss off an otherwise polished performance at the top by Allen’s predecessor Elmar Toime.

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German Deutsche Post plans to triple share issue

Posted by | Apr 5, 2005 | |

Deutsche Post will seek to more than triple the number of new shares it can issue to fund possible acquisitions at Europe’s largest postal group. The German company will ask its annual meeting to approve plans for up to 250m new shares – worth about EUR4.65bn (USD6bn) on current share prices – to be issued over the next five years if needed.

The move has refuelled speculation that it may make a move on Exel, the UK logistics company, but a senior executive at Deutsche Post told the FT last month that it was not interested in such a deal despite its relative weakness in that business area.

Company officials said yesterday that the authorisation from shareholders was being sought as a “precautionary measure”.

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Business Post dives on profits alert

Posted by | Apr 5, 2005 | |

There was a heavy thud in shares of Business Post today after it admitted profits will miss most City analysts’ forecasts.

Shareholders have enjoyed four years of almost unbroken share price rises at the courier group. The stock more than quadrupled on expectations of fat profits from the company entering the postal market and breaking up the Royal Mail monopoly.

But the revelation that group pre-tax profits for the year to 31 March will come in below the GBP21.5m expected extended the stock’s recent fall to 15percent, diving 38p today to 605p.

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Price change count down begins

Posted by | Apr 5, 2005 | |

On the 29 March the Royal Mail published its Pricing in Proportion
proposals. Just 7 days later, the Regulator, Postcomm, has published its
‘minded to accept’ consultation document. It is clear that Royal Mail and Postcomm are working closely together to ensure Pricing in Proportion is introduced in April 2006. Peter Carr, Chairman of Postwatch, commenting on the Regulator’s announcement said: ” There can be no doubt that the count down has started. In April next year the price for mailing an item will no longer be
determined by just its weight. The price will be determined by weight, size,
and thickness.”

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Business Post close period trading update

Posted by | Apr 5, 2005 | |

Business Post proposes to announce its preliminary results for the year ended 31 March 2005 on Tuesday 17 May 2005 and today issued a trading update reporting expected increased turnover in Express, a reduction in turnover growth for Pallets and excellent progress for UK Mail. Business Post expects its turnover for the year ended 31 March 2005 to be in line with expectations but pre-tax profit (before goodwill amortisation) to be slightly below consensus market expectations of approximately GBP21.5m. The Board’s overall outlook for the year ending 31 March 2006 remains unchanged.

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UK Postcomm ‘minded to’ accept Royal Mail’s revised proposals to restructure its prices

Posted by | Apr 5, 2005 | |

After extensive consultation and following detailed discussions with Royal Mail, Postcomm said today that it is minded to accept recently announced revised proposals from Royal Mail to price letters and packets according to their size, as well as their weight, as from April 2006. However, Postcomm is consulting interested parties before making a final decision, both on the proposals and on the notice period before their introduction. “With full competition in postal services starting next January, it is essential for all parties that Royal Mail’s prices align with its costs,” said Nigel Stapleton, chairman of Postcomm. “Some of its current prices are a carry-over from its days as a national monopoly when cost reflective pricing was less important. To allow this to continue would unbalance a fully competitive market. “I am pleased that Royal Mail has taken on board so many of the points raised following our earlier consultation. After extensive discussions, in which we have tested its revised price proposals, we are now satisfied that they are cost reflective. Any changes must also be revenue neutral.”

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SNCF outsources spare parts logistics to TNT Logistics

Posted by | Apr 4, 2005 | |

SNCF, the state-owned French railways company, has awarded the global, Netherlands-based Mail, Logistics and Express company TPG NV, through its business unit TNT Logistics France, a 6 year contract for the management of spare parts for its high-speed trains (TGV), locomotives and railcars. The contract is worth EUR80 million and operations will start beginning of 2006. TNT Logistics has been selected to operate the 45,000 square meters central warehouse that will be located in the Paris surroundings, as well as to manage distribution operations of parts to the repairs & maintenance centres.

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FedEx says ‘no decision yet’ to move Asia Pacific hub to China’s Guangzhou

Posted by | Apr 4, 2005 | |

FedEx Express said it has made ‘no decision yet’ on whether to move its Asia Pacific hub to the southern Chinese city of Guangzhou from Subic Bay in the Philippines. FedEx said in a statement that it is still pondering various options and has yet to finalize its development plans in the Asia Pacific, despite a local media report that it had decided to move its Asia Pacific hub to Guangzhou. FedEx initially agreed in December 2003 to assess potential opportunities in Guangzhou’s new Baiyun International Airport, which is one of China’s largest airports.

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