Author: Archive

Poste Italiene posts first annual profit

Posted by | Apr 8, 2003 | |

Poste Italiene, Italy’s state-owned postal services group, on Tuesday reported its first annual profit since it was turned from a branch of public administration into a company primed for partial privatisation.

Net profits of €22m ($23.5m) in 2002 compared with a €98m loss in 2001, with revenues up 3 per cent at €7.8bn. “This extraordinary performance is the result not of accounting manoeuvres, but of a real recovery and reorganisation of the company,” said Maurizio Gasparri, Italy’s communications minister.

Read More

US Postal Service may delay planned increase in rates

Posted by | Apr 8, 2003 | |

The U.S. Postal Service might defer an increase in postage rates until 2006 in light of a House measure that would change how it contributes to a pension fund for employees hired before 1984. The House is expected to pass on Tuesday a proposal that would allow the agency to lower the payments it makes to a worker retirement fund. If passed, the measure will reduce the Postal Service’s debt, free up extra funds and hold rates steady.

Read More

Much maligned Italian postal service posts first profit in 50 years

Posted by | Apr 8, 2003 | |

Long the butt of jokes by Italians waiting days or weeks for mail, Italy’s state-owned postal service said Tuesday it achieved its first profit in 50 years and reiterated plans to be listed on the stock market in the second half of 2004.

Poste Italiane SpA’s net profit for 2002 was 22 million euros (nearly USD24 million), a sharp contrast from the 74 million euro (USD79 million) loss a year earlier.

Read More

Singapore Post seeks postal rate hike amid listing plans

Posted by | Apr 8, 2003 | |

Singapore Post is seeking to raise postal rates for the first time in eight years, a move which, if successful, could help lift revenue. The Infocomm Development Authority of Singapore, the industry regulator, said it is studying a request to raise rates from the Singapore Telecom unit. But the IDA declined to say when it is expected to make a decision.

Read More

Initial offers for Hays logistics side

Posted by | Apr 7, 2003 | |

Potential buyers have submitted initial bids for Hays’ logistics business, marking the first milestone in new chief executive Colin Matthews’ break-up plan for the support services groups.

The majority of first round bids were submitted on Friday although some could still come in this week. Both trade and financial buyers are believed to have put in offers for the division, which analysts value at about Pounds 200m-Pounds 300m.
Exel, the freight and logistics group, has signalled its interest in Hays’ logistics division, although it is understood to be keen not to overpay for any potential acquisition. Rival Tibbett & Britten is also believed to be interested.

Read More

Everest takes business to new heights with Exel

Posted by | Apr 7, 2003 | |

Everest, the household name in the manufacturing and supply of windows and doors and conservatories, has extended its logistics contract with Exel, As a result of these, Everest has enjoyed a significant decrease in transportation costs over the past five years – despite growth in business that has increased volumes of goods moved by 25%.

Read More

Somerfield elects Exel for transportation solution

Posted by | Apr 7, 2003 | |

Exel’s partnership with Somerfield has been further strengthened with the award of a new transportation contract in the North West of England. With this new business, Exel will now provide services to a significant proportion of the 1,300 Somerfield stores across the UK equating to over £80 million per annum and including contracts in place until 2007.

Read More

Fedex, UPS use war bill to fight DHL expansion in US

Posted by | Apr 7, 2003 | |

United Parcel Service Inc. and FedEx Corp. have managed to disrupt plans by rival Deutsche Post AG, which owns DHL Worldwide Express, to expand in the U.S. by using a must-pass war-funding bill. Last week, the Senate voted to include an amendment intended to force regulators to be stricter in enforcing U.S.-ownership regulations for air-cargo carriers against the German company.

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest