TPG full year 2002 results
TPG full year 2002 results
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TPG reports its full year 2002 results
CEO Peter Bakker comments: “TPG has again been able to deliver an improved profit performance within our guidance range, notwithstanding the depressed economic climate which persisted throughout the year. Even more importantly, we have generated a significant increase in operating cash flow. Highlights include growth of 5.4% in net income from continuing operations, in line with outlook, net income of Euro 599 million (2001: Euro 585 million), operating cash flow of Euro 1,032 million, an increase of 33% over 2001, earnings from operations up 7% on revenue growth of 5% and a dividend of Euro 0.40 per share, up 5.3% from the previous year.
Read MoreThe Allan Leighton method of management
Allan Leighton is never far from the headlines. As the man charged with turning round the loss-making Royal Mail, he has frequent robust exchanges over competition with Postcomm, the regulator. The former chief executive of Asda /Wal-Mart is also involved in the prospective battle for Safeway as adviser to Philip Green, the entrepreneur who owns BHS.
In the eyes of the government, the Royal Mail chairman is the ideal boss. Britain needs more “really good managers” like him, according to Patricia Hewitt, trade and industry secretary.
Read MoreUK Royal Mail calls review after GBP30M budget cut
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Read MoreRoyal Mail results rally undermines call to slow deregulation
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Read MoreCeska Posta grosses KC560M in 2002, down 20% Yr/Yr
Postal services operator Ceska Posta grossed Kc560m last year, 20.5 pct less than in 2001, the fall being mainly due to a growth in operating costs, spokesman Ladislav Vancura told CTK today.
Costs of energy and transport grew last year and until August the company was not allowed to raise its prices. In September, its prices went up by 6 pct on average, which was to bring in an extra Kc250m in revenues. For example, the price of sending a letter or a postcard rose by Kc1 to Kc6.40.
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Cisco Systems and Deutsche Post World Net have agreed on a strategic partnership in the area of information technology. During the coming two years the focus will be on the exchange of expertise when implementing selected chosen projects. These will include web based accounting applications in finance and internet supported solutions for company internal communication.
Read MoreMER Magazine
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