Year: 2003

UK Royal Mail cuts heavy packages down to size

Posted by | Oct 22, 2003 | |

Royal Mail has said that it will no longer carry heavy parcels, because it is not making any money out of it. The mail organisation said that the company won’t carry parcels over 20kg after April 1, adding that the service is being subsidised by other users. The organisation only carries 45,000 parcels of this weight in a year – and they generally need two people to carry them. Postcomm, the mail regulator, has consented to the change, and also to Royal Mail changing the latest time for its special delivery products to be delivered from 12 noon to 3pm, to fit in with the company’s plans to move to a single, later daily delivery of post.

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UK Royal Mail 'Still talking about rail'

Posted by | Oct 22, 2003 | |

Allan Leighton, chairman of Royal Mail, has told MPs that the postal organisation is talking to seven potential suppliers about continuing to transport mail on the railways. The Royal Mail scandalised unions and environmental groups in June by concluding that air and road were cheaper options for delivering post, and that the network’s mail-train services will stop by the end of next March. This was despite the fact that it had signed a 10-year contract for its rail services, ending in 2006.

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La Poste wins entry to mortgage market

Posted by | Oct 22, 2003 | |

La Poste, the French post office, has received government approval for a limited expansion into financial services despite vigorous lobbying by French banks opposed to the move, French business paper Les Echos reports.

Nicole Fontaine, the industry minister, said La Poste would be authorised to begin offering mortgages to individuals buying homes, without the need to set up a savings plan, from 2005. However, requests by La Poste to begin offering disaster insurance and consumer credit were rejected by the government. Its application to enter the consumer credit market will be reviewed again in 2006.

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UK Royal Mail buys 17% of Moving Technologies

Posted by | Oct 22, 2003 | |

Royal Mail has snapped up a 17% share in Moving Technologies, a supplier of address change technology. As part of the deal Royal Mail has signed up to launch a new online change of address service. Over 800 companies are signed up to the service, including the main utility providers, banks and supermarkets, a number expected to grow to over 2,000. It is estimated that over 11m home-movers could benefit from using the service each year.

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UPS reports nearly 28% jump in third quarter profit

Posted by | Oct 21, 2003 | |

United Parcel Service, the world’s largest shipping carrier, reported a nearly 28% jump in third-quarter profit on strong revenue, citing better domestic business, particularly in next-day air volume. The results beat Wall Street expectations.

Atlanta-based UPS said it earned $739 million, or 65 cents a share, for the three months ending Sept. 30, compared with a profit of $578 million, or 51 cents a share, for the same period a year ago.

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International boosts UPS earnings

Posted by | Oct 21, 2003 | |

Net income at United Parcel Service jumped 28% in the third quarter to $739 million, up from $578 million a year ago. Revenue was up 7.2% to $8.3 billion, compared with $7.8 billion.

The Atlanta-based logistics provider attributed the gains to a strengthening U.S. package business and record performances by its international and non-package businesses, as well as the sale of its aviation technology business and a favorable tax ruling.

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FedEx to expand to 100 more Chinese cities

Posted by | Oct 21, 2003 | |

Fedex Corp, the largest overnight shipping company, will fly to an additional 100 Chinese cities in the next five years as air cargo volume in Asia increases, said Chief Operating Officer Michael Ducker. Air cargo volumes are expanding at 9% a year in Asia compared with 3 percent globally, Ducker said.

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Changes to Royal Mail's Standard Parcel service

Posted by | Oct 21, 2003 | |

Royal Mail today welcomed Postcomm’s decision to allow it to make alterations to its Standard Parcel service. From 1 April 2004, Royal Mail will withdraw the delivery of Standard Parcels weighing more than 20kgs – a service historically provided, although not required under the terms of the Universal Service Obligation within the Postal Services Act. Royal Mail’s network is not designed for handling items weighing more than 20kgs, which account for less than one per cent of the four-and-a-half million Standard Parcels it delivers each year.
Royal Mail’s current charge for handling Standard Parcels weighing between 20kg and 30kgs is GBP10.76. The real cost of providing the higher weight delivery is between GBP22 and GBP36, depending on a variety of factors including the destination, resulting in an annual loss on the service of around £1 million.

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