Author: Archive

US Postal Service in the black for half of fiscal year

Posted by | Apr 1, 2003 | |

The US Postal Service finished the first half of its fiscal year – its highest revenue period – USD1.65 billion in the black, the agency reported Tuesday. Chief Financial Officer Richard Strasser reported that while mail volume is still down because of the uncertain economy, the Postal Service has been able to cut costs and increase productivity. For the fiscal year that started in September, revenue so far is USD32.8 billion and expenses have totaled USD31.1 billion, leaving a net income of USD1.65 billion, Strasser told the agency’s board of governors. For the first half of last fiscal year, the post office had revenues of USD31.0 billion and expenses of USD31.2 billion for a net loss of USD195 million.

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Future of UK rural post offices in doubt

Posted by | Apr 1, 2003 | |

The future of nearly 6,800 rural UK post offices was thrown into doubt last night after it emerged that a European Commission decision on a crucial Pounds 450 million aid package has been delayed until the summer. Although the Government has already pledged money to maintain the loss-making rural post office network, it needs Commission approval before the cash can be paid. A decision from commissioners was expected this month but has been delayed.

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Slovenska Posta nets SKK 170 mln in 2002

Posted by | Apr 1, 2003 | |

Audited figures for 2002 show revenues of state-owned postal service company Slovenska Posta at SKK 6.03 billion, gross earnings at SKK 226 million and net earnings at SKK 169.75 million, finance director Jiri Vacek told a news conference on Tuesday. Although net earnings of Slovenska Posta were SKK 76 million lower than in 2001, the company significantly exceeded the 2002 target, stated Mr. Vacek, labeling the results as favorable.

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World Bank loan to Trinidad & Tobago Post

Posted by | Apr 1, 2003 | |

Trinidad & Tobago has received a US$11.45 million loan from The World Bank toward the cost of the Postal Services Reform Project. Part of the proceeds will pay for the supply, delivery and installation of office furniture, workstations and fixtures.

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Mail volume & demand for postal services keep growing in Malaysia

Posted by | Apr 1, 2003 | |

Contrary to popular opinion, the volume of mail has not gone down since the advent of the fax, e-mail and SMS. Rather, Pos Malaysia is seeing a growth of between three and five per cent every year. According to Pos Malaysia CEO S.M. Haja Alawdin S. Md. Sulaiman, Pos Malaysia handles 1.12 billion items a year, accounting for 3.5 million items a day.

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1p rise for First and Second class basic UK postage on May 8

Posted by | Mar 31, 2003 | |

First and Second class basic postage prices will rise by 1p on Thursday, May 8, Royal Mail confirmed today. The basic First Class stamp will rise to 28p and basic Second Class postage increases to 20p. It will be the first increase in the basic First Class stamp since April 2000. The basic 19p Second Class stamp is currently at the same price as it was at the end of 1993. Royal Mail had earlier this month said May 8 was the intended date for price rises to take effect. However, confirmation of the date has had to await today’s announcement from the postal regulator, Postcomm, on its three-year price control for Royal Mail.

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