Year: 2005

France postal services open to more competition, expands La Poste banking

Posted by | May 13, 2005 | |

The French Parliament have adopted a law to deregulate postal services, opening up La Poste to increased competition, while also enabling the network to offer new financial services.

The vote allows France to finally meet its obligations under EU directives on postal deregulation which were supposed to have been fulfilled by 2002.

The EU has since made adherence to that directive, as well as others related to the energy and transportation sectors, a condition for approval of the state-rescue-plan for troubled engineering group Alstom SA.

Since initial deregulation in Jan 2003, La Poste has held a monopoly on mail services below 100 grammes or three times the basic stamp price, currently at 0.53 eur.

Following application of the new law, this will be lowered to 50 grammes and 2.5 times the basic stamp price.

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French La Poste aims for 9 percent of home mortgage market within 10 yrs

Posted by | May 13, 2005 | |

Jean-Paul Bailly, chairman of France’s state-owned postal operator La Poste, said he aims to have 9 percent of the country’s home mortgage market within 10 years, following government deregulation of the sector.

‘We have 4 percent of this market today,’ Bailly said.

‘We are aiming, by 10 years from now, for a share that corresponds with our share of the retail banking market in France, which is to say about 9 percent,’ he added.

French Parliament have approved laws that allow La Poste to offer home mortgages and other products to clients who do not already have current accounts.

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APC increases turnover

Posted by | May 12, 2005 | |

APC Overnight announced a 16% increase in turnover to GBP37m for the year ended March 31 2005. Profit rose i line, APC said, but it declined to give details ahead of confirmation by auditors.

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Target invests

Posted by | May 12, 2005 | |

Target Express has invested GBP2m in a new, 3,000 sqm depot at Bicester Park, close to the M40 and A34. The site will amalgamate two depots at Aylesbury and Abingdon.

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Austrian Post to complete office closures by July 31

Posted by | May 12, 2005 | |

Austrian postal company Oesterreichische Post (Post AG) will complete the planned closure of 310 post offices by the end of July 2005, the company said at a news conference on May 12, 2005.

The work of further 47 offices will be assessed by mid-2006. Post will aim to bring these offices in the black, Herbert Goetz, the Post official responsible for the company’s network of post offices, said. If the move failed, Post will have to close them.

Post justified the closures saying that the post offices had already incurred losses. A total 20 pct of the Post network is in the red. If Post had not implemented the savings measures, its network would have collapsed, Goetz added.

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FedEx US says economic growth ‘steady’

Posted by | May 12, 2005 | |

FedEx Corp. has reaffirmed its earnings outlook for the fourth quarter, saying it continues to see steady economic growth across the U.S. and internationally.

The current average estimate of analysts polled by Thomson First Call is for earnings of USD1.48 a share in the May period.

“The overall strength of the economy, and in particular the strength in the manufacturing and wholesale sectors, should continue to benefit FedEx going forward,” said Frederick Smith, the company’s chairman, president and CEO.

FedEx stock fell 1.2percent on Thursday to USD86.51. So far this year, the company’s shares are down 11percent but are off just over 3percent in the last 30 days.

The announcement comes one day after United Parcel Service UPS backed its earnings outlook for 2005 and said that the company’s domestic business is growing. See full story.

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SNAS/DHL makes major investment to upgrade services in UAE

Posted by | May 12, 2005 | |

The company will operate the 727 jet among Bahrain, Dubai, Riyadh and Jeddah six days a week which will greatly reduce the transit time for deliveries of documents, parcels and heavyweight shipments, substantially increasing SNAS/DHL’s load capacity into KSA.

Samir Al-Judaibi, Air Operations and Gateways Manager from SNAS/DHL commented: ‘SNAS/DHL has been working towards this major step forward for more than a year and we are delighted that our daily flight service is now operational.” Al-Judaibi added, ‘By routing the flights via Dubai we can include shipments from the UAE, making this fast new service even more effective and convenient for our customers in the Kingdom. In addition, the new service gives a tremendous boost to our existing high load lifting capacity to 20 tonnes daily.’

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DHL Latvia Express Deliveries Co revenues 2 percent down

Posted by | May 12, 2005 | |

Revenues of DHL Latvia express deliveries and logistics services company shrunk in by 2 percent from the previous year to approximately 13 million euros in 2004.

DHL Latvia sales and marketing head Marite Virbale told BNS that the company’s postal service has been profitable, however, she declined to reveal the size of the profit.

Virbale said the company’s revenues declined last year, because, after Latvia’s accession to the EU, many companies no longer needed brokers’ services. However, generally last year has been successful for DHL Latvia, as it introduced several new products on the market.

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