Deutsche Post AG said it will not increase its bid for the Danish postal service Post Danmark. The move comes after the Danish government announced it wants to sell its 25pct of the state’s shares in the postal service to UK-based CVC Capital Partners. ‘We respect the decision of the Danish government,’ a Deutsche Post spokesman said. ‘However, we will not increase our offer,’ he added.
Read MoreTPG NV dropped out of the race for a 25 pct stake in the Danish national postal operator Post Danmark, TPG spokesman Tanno Massar said on March 18, 2005. Danish state, the owner of Post Danmark, will negotiate exclusively with the British equity fund CVC Capital Partners (CVC). The talks are to be completed in April 2005.
Read MoreEscher Group, Ltd., a leading provider of counter automation and business applications to the postal industry, announced today that it has retained the services of Elmar Toime, former deputy chairman of Royal Mail Group and chief executive of New Zealand Post, to identify new business opportunities and develop and promote strategic solutions for customers worldwide. “Elmar Toime is revered by the industry and we are extremely pleased to be working with him,” said Michael Murphy, president and CEO of Escher Group. “Our expertise in providing advanced technologies and business solutions to the postal market combined with Elmar’s extensive industry experience make this a winning relationship for our customers.”
Read MorePostcomm today began consulting on a number of measures to ensure the fully competitive multi-operator postal market, which comes into effect next January, will operate smoothly and efficiently. Postcomm’s proposals involve all licensed operators meeting common standards to safeguard the mail in their charge from theft, damage or interference. Separately, Postcomm is proposing common operating procedures to ensure such things as letters marked “return to sender” and customer service enquiries are handled by the appropriate operator.
Nigel Stapleton, chairman of Postcomm said: “Customer confidence is an essential pre-requisite for a competitive postal market. In preparation for full market opening Postcomm is today issuing two consultation documents – on mail integrity and on common operating procedures — which we believe will secure that confidence.”
FedEx has reported stronger-than-expected third-quarter results, registering double-digit growth in ground deliveries and international shipments.
However, the Memphis, Tenn.-based company warned the rising price of oil could crimp fourth-quarter margins.
Net income for the third quarter ended Feb. 28 rose 53 percent, reaching USD317 million, or USD1.03 per share, compared with USD207 million, or 68 cents, earned in the year-ago period.
Operating income received a boost from the timing of fuel surcharges as costs declined, FedEx said.
Quarterly revenue rose 21 percent, reaching USD7.34 billion from USD6.06 billion.
According to estimates compiled by Thomson First Call, analysts had been looking for a third-quarter profit of 98 cents a share on revenue of USD7.19 billion.
Read MoreFedEx Corp. reported the following consolidated results for the third quarter:
Revenue of USD7.34 billion, up 21% from USD6.06 billion the previous year, operating income of USD552 million, up 48% from USD372 million a year ago, operating margin of 7.5%, up from last year’s 6.1% and net income of USD317 million, up 53% from USD207 million the previous year. “We have solid momentum in the business and customer demand is strong,” said Frederick W. Smith, chairman, president and chief executive officer. “Economic conditions remain favorable, and we are optimistic about future growth prospects. We are executing our plans very well and our unique business strategy is paying off.” Total average daily package volume at FedEx Express and FedEx Ground combined grew more than 10% year over year for the quarter, led by double-digit growth in ground and FedEx International Priority(R) shipments. FedEx Freight average daily less-than-truckload (LTL) shipment volume increased 9%. FedEx Express, FedEx Ground and FedEx Freight each reported solid yield improvement.
The Board of Directors of UPS today announced it had elected the chief executive of BT Group plc, Ben Verwaayen, as a new independent non-executive director of the company. Verwaayen, 53, will serve the balance of a term that expires in May of this year and will stand for re-election at the UPS annual shareowners meeting on May 5. “We are excited to add to our board an executive who brings such a strong international perspective,” said Mike Eskew, chairman and CEO of UPS. “We also will benefit greatly from Ben’s knowledge and experience in telecommunications and technology.”
Read MoreThe Nigerian Postal Service (NIPOST) has concluded arrangements to commission an Information Technology system that allows receivers of mail items to know the status of their mails while the mail is still in transit.
Speaking during the 2nd Bulk Post Venture Lecture at Sheraton Hotels and Towers in Lagos, the Postmaster General of the Federation, Alhaji Abubakar Musa Argungu, said when commissioned, the system would allow shakeholders access the status of mails from the computer right in their offices.
“The system, when in operation, will enable shareholders to know the status of their registered mail items given to the Post for delivery. Shareholders can access the status of the mail from the computer right in their offices.”
He stressed: “We want to assure our customers especially the Association of Capital Market Registrars, that by the end of the second quarter of 2005, our Bulkpost Venture will be in a position to ensure that the status of every registered mail item can be accessed at any point of the delivery chain.”
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