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Business Post Chairmans AGM Statement

Posted by | Jul 11, 2002 | |

At the AGM today of Business Post Group plc, one of the UK’s leading express delivery companies, the Chairman, Peter Kane, issued the following update on current trading and prospects:

“I am pleased to report an encouraging start to the financial year. Parcel revenues in the three months ended 30 June 2002 were 14% ahead of the equivalent period in the prior year. In addition to the impact of the contract with FedEx, which commenced in September 2001, revenues also benefited from strong levels of new business and improved levels of customer retention, more than offsetting the effects of the turnover lost following the collapse of Tiny Computers at the end of January 2002.
Our strategic investments, notably in our franchise network and our newer and smaller businesses (HomeServe, International, UK Today and UK Mail), have increased our costs, as expected. However, our cost base remains tightly managed, service performance levels remain very high and, as a consequence, our overall results to date are in line with plan.

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UPS upgrades Hong Kong-US capacity

Posted by | Jul 11, 2002 | |

United Parcel Service will be replacing one of its daily 747-200 freighter flights between Hong Kong and the U.S. with an MD-11, beginning July 21.
While the MD-11 is a smaller aircraft, UPS says it will be able to get a higher payload because the MD-11 is a more efficient aircraft. It can fly direct from Hong Kong to Anchorage, avoiding a refueling stop in South Korea.
Spokesman Mark Giuffre said the MD-11, one of three now in the UPS fleet, will have a payload of about 155,000 pounds, compared to 115,000 pounds on the 747 if it were to fly non-stop from Hong Kong to Anchorage. From Anchorage, the aircraft will fly to UPS’s main hub in Louisville. Return flights will stop in Anchorage and Incheon before landing in Hong Kong.

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Österreichische Post AG invests € 221 million into the future

Posted by | Jul 11, 2002 | |

Österreichische Post AG invests a total of more than € 221 million into modernizing its logistics operations. All the processes related with the collection, sorting, and distribution of mail will be concentrated at six locations, which count among the European top state-of-the-art logistics centers.

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VNPT's Post, telco arms to branch out as two enterprises

Posted by | Jul 11, 2002 | |

Vietnam Post and Telecommunication Corp (VNPT) is rolling with the punches as it gears up for competitive pressure and a bold restructure.
The State-owned giant will operate as two entirely separate corporations by 2003.
The historic split will kick off at the district-level post network.
Trials began in 11 cities and provinces last year, and will be completed in the rest of the country by mid-August this year.
The corporation has finished 40 per cent of its full-year plan, contributing more than VND1.4 trillion (US$90 million) to the State budget, an increase of 6 per cent compared to the first half of last year.

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Deutsche Post Backpedals

Posted by | Jul 11, 2002 | |

After threatening to cut 10,000 jobs and close post offices across Germany, Deutsche Post AG seems to have reconsidered its response to the regulator’s demand for a cut in postage prices.
Deutsche Post chief executive Klaus Zumwinkel said that after “careful discussions” with Economics Minister Werner Müller his company would take appropriate account of the different interests of consumers, shareholders and employees.
On Tuesday evening, the RTP telecoms and postal services regulatory body ordered Deutsche Post to cut the postage on standard letters and postcards by 4.7%. The postal giant – still 69%-owned by the government – responded by saying it would have to consider cutting 10,000 jobs and closing 1,000 post offices nationwide in anticipation of the loss of 1.5 billion euros in earnings by 2007.

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US Postal Services woes continue

Posted by | Jul 11, 2002 | |

Another increase in the rates charged by the U.S. Postal Service took effect June 30 with little, if any, outrage by the general public.
Even heavy mailers like catalog companies were rather quiet. Maybe it’s because most Americans believe that even with this latest rate increase, the work the Postal Service does is still a bargain.
Then again, what good would protest have done? The Postal Service is, after all, a regulated monopoly, albeit one facing increased competition, particularly from the Internet.

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Deutsche Post to charge for some free services to offset postal rate cuts

Posted by | Jul 11, 2002 | |

Deutsche Post World Net AG will try to partly offset the mandatory cuts in its postal rates by introducing new products and charging for some services that are currently free, a spokesman said.
He said the company will try to stem the decline in sales “as much as possible”, but declined to give figures.
Yesterday, Deutsche Post said it expects sales to be down by 1.5 bln eur in 2003-2007 due to postal rate cuts, which were ordered by the postal regulator RegTP.
The company expects sales in 2003 alone to be down by 300 mln eur after the measures are implemented, and said it may close branches and cut up to 10,000 jobs.

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