Author: Archive

UPS CEO optimistic about growth prospects in 2005

Posted by | Feb 23, 2005 | |

Despite concerns rivals are gaining ground, United Parcel Service Inc. Chairman and Chief Executive Michael Eskew said on Wednesday he was optimistic about the package deliverer’s growth prospects in 2005. Atlanta-based UPS has been battling in the past year to overcome a perception that it is underperforming FedEx Corp, its main competitor, in the giant US ground delivery market. While UPS remains the leader in the US ground delivery market, its volumes in this key area grew a sluggish 1.6 percent in the fourth quarter of 2004, down from 2.5 percent growth in the same period in 2003. “We had a tough December, but we’re optimistic about this year,” Eskew told reporters on Wednesday after a speech to an Atlanta business group.

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German Deutsche Post appeals cartel watchdog ruling

Posted by | Feb 23, 2005 | |

German postal services company Deutsche Post AG has appealed the ruling of the Federal Cartel Office (FCO), which forced it to offer competitors discounts for its mail dispatch services, the company said on February 22, 2005.

Deutsche Post strives to defend itself from the increased pressure by FCO and by some German politicians to give up its monopoly rights earlier than 2007 as scheduled.

The appeal is aimed at only preventing the immediate application of the decision and Deutsche Post expects the results of the appeal in the next few weeks, company CEO Klaus Zumwinkel said.

The company does not plan to hinder the opening of the market as demanded by the European Commission (EC), banking experts said.

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Polish Post’s Monopoly on TV License Under EU Scrutiny

Posted by | Feb 23, 2005 | |

The government has given the state postal service Poczta Polska a monopoly on collecting and controlling the payments for public TV licenses. The National Broadcasting Council (KRRiT) decided that Poczta will receive 6 percent of the gathered funds. The provision amounted to ZL56 million last year. MPs and the KRRiT have decided to look into the matter. KRRiT Economic Department Director Jacek Kufel said Poczta should receive a maximum of 4.5 percent, since the less money Poczta gets, the more funds will be available for public TV and radio broadcasting. It is also possible that the European Commission will look into the monopoly, as Poczta Polska is currently being looked into because of its application for EU subsidies. The government is planning to introduce a new law that would enable competition in the field of fee collection through conducting a tender.

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UPS Wins Tentative Go-Ahead for Expanded Access to China

Posted by | Feb 22, 2005 | |

The US Department of Transportation (DOT) has tentatively authorized UPS to significantly expand its air operations in China. The decision, tripling UPS’s access to China over the next year, will provide significant opportunity for UPS to continue growing its business within the region while providing customers with service in all segments of the market – from general freight to express delivery. UPS currently flies from the United States to China six times per week. Today’s tentative decision grants UPS six additional frequencies to Shanghai immediately and six new frequencies to Guangzhou next year. The new frequencies will allow UPS to connect Shanghai to Japan for the first time with non-stop service, and the 2005 frequencies will allow UPS to offer non-stop service from the US to Guangzhou for the first time.

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47 Percent of Belgians never go to post offices

Posted by | Feb 22, 2005 | |

About 47 pct of Belgians almost never go to the offices of Belgian postal services company De Post/La Poste, a report of the company showed on February 22, 2005.

According to the report a total 97 pct of Belgians have access to a post office within a radius of five kilometres. Some 60 pct of the population have access to three post offices in a radius of five km.

Currently, the company operates 1,309 offices in the country, 642 of them employ only one person. De Post/La Poste reported 188 mln euro (USD247.56 mln) losses from the operation of its offices network in 2003. Three of four offices are loss-making. The company said that it will not close offices in 2005, but will launch a restructuring afterwards. The company also plans to expand the distribution of its products via 50 sales counters PostPunten at banks, supermarkets and news stands.

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Poste Italiane to focus on services – CEO

Posted by | Feb 22, 2005 | |

Italian state-owned postal services company Poste Italiane SpA plans to focus on services for the future, the CEO of the company, Massimo Sarmi, said on February 22, 2005, at the presentation of the financial accounts for 2004. In 2004, Poste Italiane registered 64.4 million mailings of packets and Corriere Espresso (express courier), down by 6.0 pct for the packets and up by 14.5 pct for Corriere Espresso, both compared to 2002.

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Poste Italiane net profit at 236 mln Euro 2004

Posted by | Feb 22, 2005 | |

Italian state-owned postal services company Poste Italiane SpA registered a consolidated net profit of 236 mln euro (USD310.8 mln) for 2004, compared to 90.3 mln euro (USD118.9 mln) for 2003. Poste Italiane’s net profit stood at 21.6 mln euro (USD28.4 mln) in 2002. The company’s earning before interest, tax, depreciation and amortisation (EBITDA) rose by 56.7 pct to1. 8 bln euro (USD2.37 bln). Operating profit dropped by 82 pct to 796.4 mln euro (USD1.048 bln). Turnover amounted to over 9.0 bln euro (USD11.851 bln).

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Deutsche Post 2005 net seen up 25 pct due to new IFRS accounting rules

Posted by | Feb 22, 2005 | |

Deutsche Post World Net AG expects net profit this year to be 25 pct higher than last due in part to the adoption of International Financial Reporting Standards (IFRS), a company spokeswoman said. Under German accounting norms there was a negative goodwill effect totalling 400 mln eur. This writedown will no longer be reflected under IFRS. ‘On an operating level, nothing will change,’ she said. She added that Deutsche Post’s US business is currently developing better than expected.

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