Author: Archive

Correos Spain posts gains

Posted by | May 7, 2003 | |

Spanish public-run postal service operator Correos announced Tuesday that its net profit amounted to – EUR 82.7 million in 2002, a three-fold increase on the – EUR 25.9 million it posted in 2001. Correos Chairman Víctor Calvo-Sotelo noted that the strong profit growth came in the midst of a progressive privatization of the group, with the Spanish state only contributing EUR 5.6 million last year. Revenue from its postal services activities increased 12.3 percent to EUR 1.65 billion, while costs rose 3.1 percent to EUR 1.45 billion.

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UK Royal Mail 'losing £2m a week'

Posted by | May 7, 2003 | |

The Royal Mail is still losing at least GBP2m a week, its new chief executive has admitted. Adam Crozier told the BBC the continuing “sizeable losses” were disappointing but the company had “definitely turned the corner”. But he added that he still faced a huge task turning things round.

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Royal Mail strikes GBP1.5 billion computer deal

Posted by | May 6, 2003 | |

The Royal Mail today signed a GBP1.5 billion contract to outsource computer work to private companies in a move aimed at saving the postal group GBP250 million over the next 10 years. More than 1,700 Royal Mail information technology staff will transfer to Computer Sciences Corporation (CSC), BT and Xansa, which will be responsible for running data centres, desktop computers and hundreds of business application systems. Adam Crozier, Royal Mail Chief Executive, said: “This is a great deal for Royal Mail and a great deal for our people. It is a vital component in our renewal plans in terms of reducing costs and giving us the information technology services that we need to make Royal Mail a great company.”

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Deutsche Post CEO Faces U.S. Challenge Amid Expansion

Posted by | May 6, 2003 | |

Deutsche Post AG Chief Executive Officer Klaus Zumwinkel’s plan to boost earnings by expanding the German postal service in the $65 billion U.S. delivery market may be dealt a blow by United Parcel Service Inc. and FedEx Corp. Zumwinkel, 59, in March offered USD1.05 billion to buy Airborne Inc. to establish a ground network in the U.S. and diversify revenue streams as earnings growth at home slows. The purchase by Deutsche Post, in which the German government has a 70% stake, needs U.S. regulatory approval and comes amid a Department of Transportation inquiry into complaints from rivals United Parcel and FedEx about German control of DHL Airways Inc. `The situation in the U.S is a problem for Deutsche Post,’ said Reinhard Niebuhr, who helps manage the equivalent of about USD5.6 billion at AMB Generali in Cologne, Germany. “The large competitors there are trying to push Deutsche Post out.”

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EU VAT move could raise stamp prices – AN Post against move

Posted by | May 6, 2003 | |

A proposal by the EU to slap VAT on postal services could lead to a sharp hike in the cost of postage stamps. An Post said the proposal is at a very early stage, but has indicated that it is against the move. It said that the issue will be a matter for the Government but warned that if the full rate of VAT is applied at 21pc, this could bump up the price of a postage stamp from 41c to 49c.

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EU VAT plans `will add 5p to UK postage stamps'

Posted by | May 6, 2003 | |

European plans to impose VAT on national postal services could put 5p on the price of a stamp, it was claimed today. The Government vowed to oppose the idea, as both Conservative and Labour Euro-MPs condemned it as an unnecessary new burden on consumers. But EU Tax Commissioner Frits Bolkestein insisted there would be no “significant” price rises and said he was just trying to create fair competition between traditional state postal services and private rivals.

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Royal Mail’s John Modd appointed to Spring management board

Posted by | May 6, 2003 | |

Royal Mail has announced the secondment of John Modd, previously Managing Director of its International Services business, to Spring, the joint venture cross border mailing company established by Royal Mail, TPG and Singapore Post. Mr Modd took up the role of Vice President Strategy and Business Development on May 5 2003. Based at Spring’s Headquarters in Amsterdam, John will report direct to Spring’s CEO, Theo Jongsma.

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