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FedEx profits surge in first quarter

Posted by | Sep 22, 2004 | |

FedEx Corporation reported earnings of USD1.08 per diluted share for the first quarter ended August 31 an increase of 157%. FedEx Corp. reported the following consolidated results for the first quarter: revenue of USD6.98 billion, up 23% from USD5.69 billion the previous year, operating income of USD579 million, up from USD200 million a year ago, operating margin of 8.3%, up from last year’s 3.5% abd net income of USD330 million, up from USD128 million the previous year. “Our strong earnings performance reflects an increased demand for our broad portfolio of services, successful execution of our cross-selling strategy and the expanding global economy,” said Frederick W. Smith, chairman, president and chief executive officer. “Customers are increasingly seeing the value of using FedEx to reach new markets, grow their businesses and cut inventory carrying costs. The global economy is expanding steadily, particularly the manufacturing sector, giving our business more opportunities to grow in the future.”

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New Friday deadline set in crisis talks on DHL jobs, night flights

Posted by | Sep 22, 2004 | |

Belgium Prime Minister Guy Verhofstadt on Wednesday set a new end-of-week deadline for regional leaders to agree on a compromise to keep courier company DHL and its thousands of jobs in Belgium. Deputy Prime Minister Laurette Onkelinx said the prime minister wanted a final deal by Friday. “We will take stock of the talks on Friday, and we will continue with bilateral talks until then,” Onkelinx said. Verhofstadt, who was released from the hospital Wednesday after a car crash, was working from home to try to wrap up talks that threaten to bring down his coalition government, officials said. His spokesman Didier Seeuws said the prime minister would continue to work from home “behind the scenes to find a solution.”

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Reorganization of German retail outlet network almost complete

Posted by | Sep 22, 2004 | |

Deutsche Post will complete the reorganization of its retail outlet network by late 2005. The target figure of 12,000 retail outlets required by the legislator will have been reached once the measure is completed. The goal of the reorganization is to reconcile regulatory requirements, customer demand and profitability in the approximately 13,000 retail outlets still currently operating. Unprofitable retail outlets in approximately 600 locations will be closed by late 2004 and replaced by a mobile postal service. In return, Deutsche Post has provided some 1,300 locations with a guarantee that their retail outlets will be retained or new ones opened as part of its voluntary commitment.

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Palletways plans freight revolution

Posted by | Sep 22, 2004 | |

Just as TNT re-wrote the rule book in parcels for the UK and Europe, so Palletways can do the same in the even larger freight market, says new chief executive. Palletways is set to announce significantly improved profit levels as well as rapid growth for 2003/4, new chief executive and shareholder James Wilson revealed last week. He confirmed also that there were several investment companies interested in buying into the firm, apart from Phoenix Equity, which is now the major shareholder, having bought out 3i. The strong financial performance last year will be detailed shortly when results are filed at Companies House and was part of the appeal to its new owners.

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DHL raises prices, blames high fuel costs

Posted by | Sep 21, 2004 | |

Giant cargo handling company DHL has implemented a global fuel surcharge to cover its entire global operations.

The company has fallen into pressure amounting from the global transportation costs and has moved in to adjusts its prices to cover the costs arising from the hike in fuel prices.

Effective from this month, DHL’s temporary surcharge will be adjusted to a moderate three per cent on all international export and import products express, said country manager Allastair Russel.

“This has a huge direct cost impact on our operations where the price of transportation fuels for aircraft and road vehicles continued to rise significantly and where commercial airlines levy a fuel surcharge for each kilo they carry for DHL,” he said.

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Korea Seven-Eleven to offer international delivery service

Posted by | Sep 21, 2004 | |

Korea Seven-Eleven Co. said Tuesday that its convenience stores will offer international express delivery service to customers starting this week.

The company said it will launch the service at its 600 stores in and around the Seoul area on Friday.

The move follows a successful test run at 10 stores in Seoul in conjunction with DHL International Ltd., the U.S.-based global delivery service provider.

The tie-up with DHL will enable the sending of priority international mail and packages, 24 hours a day, at Seven-Eleven stores. The company said customers will be able to send packages for 15 per cent less than usual market prices.

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Belgian government in crisis over night flights from Brussels

Posted by | Sep 21, 2004 | |

Belgian Prime Minister Guy Verhofstadt was grappling with a political crisis Tuesday caused by DHL’s threats to abandon Brussels airport. DHL’s request to fly hundreds more night flights out of Brussels-Zavantem has the backing of the Flemish regional government and trades unions. The company, the airport’s biggest employer, has threatened to relocate its European hub from Brussels to the German city of Leipzig if its demand is not met. But the Brussels city government is furiously resisting the demand, pointing to the noise and disruption that would be caused over one of Europe’s most densely populated areas. Stuck in the middle is Verhofstadt who is now working overtime to resolve the DHL dispute. Verhofstadt, who has been holding “last-chance talks” since Monday in a bid to find a compromise, was forced to put back a parliamentary statement on DHL from Tuesday afternoon to the evening as his consultations dragged on. The Belgian media has taken to speculating that the Flemish prime minister’s government could even fall over the issue, which has been a hardy perennial of Belgian political debate in recent years.

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DHL awaits ‘unambiguous’ decision from Belgian govt on airport growth

Posted by | Sep 21, 2004 | |

Deutsche Post-owned DHL, the express mail courier, said it is awaiting an ‘unambiguous’ decision from the Belgian state to end controversy over the possible construction of its European mail hub at Brussels’ Zaventum airport, according to a report in the Belgian daily Le Soir. Embattled Belgian prime minister Guy Verhofstadt was in talks late last night to find a solution to a problem that pits local residents opposed to an increase in air traffic, against a government-backed programme to attract investment and jobs. At stake is between 5,400 to 9,600 jobs, according to Le Soir. DHL is also considering Vatry in France or Leipzig in Germany as possible locations for its new distribution centre, which will be capable of handling 3,000 tonnes of freight per night by 2012.

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