Year: 2005

UK Postcomm proposes new codes of practice for a competitive market

Posted by | Mar 18, 2005 | |

Postcomm today began consulting on a number of measures to ensure the fully competitive multi-operator postal market, which comes into effect next January, will operate smoothly and efficiently. Postcomm’s proposals involve all licensed operators meeting common standards to safeguard the mail in their charge from theft, damage or interference. Separately, Postcomm is proposing common operating procedures to ensure such things as letters marked “return to sender” and customer service enquiries are handled by the appropriate operator.
Nigel Stapleton, chairman of Postcomm said: “Customer confidence is an essential pre-requisite for a competitive postal market. In preparation for full market opening Postcomm is today issuing two consultation documents – on mail integrity and on common operating procedures — which we believe will secure that confidence.”

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FedEx’s Q3 profit rises 51percent but fuel costs may pinch Q4

Posted by | Mar 17, 2005 | |

FedEx has reported stronger-than-expected third-quarter results, registering double-digit growth in ground deliveries and international shipments.

However, the Memphis, Tenn.-based company warned the rising price of oil could crimp fourth-quarter margins.

Net income for the third quarter ended Feb. 28 rose 53 percent, reaching USD317 million, or USD1.03 per share, compared with USD207 million, or 68 cents, earned in the year-ago period.

Operating income received a boost from the timing of fuel surcharges as costs declined, FedEx said.

Quarterly revenue rose 21 percent, reaching USD7.34 billion from USD6.06 billion.

According to estimates compiled by Thomson First Call, analysts had been looking for a third-quarter profit of 98 cents a share on revenue of USD7.19 billion.

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FedEx reports strong revenue and earnings growth in third quarter

Posted by | Mar 17, 2005 | |

FedEx Corp. reported the following consolidated results for the third quarter:
Revenue of USD7.34 billion, up 21% from USD6.06 billion the previous year, operating income of USD552 million, up 48% from USD372 million a year ago, operating margin of 7.5%, up from last year’s 6.1% and net income of USD317 million, up 53% from USD207 million the previous year. “We have solid momentum in the business and customer demand is strong,” said Frederick W. Smith, chairman, president and chief executive officer. “Economic conditions remain favorable, and we are optimistic about future growth prospects. We are executing our plans very well and our unique business strategy is paying off.” Total average daily package volume at FedEx Express and FedEx Ground combined grew more than 10% year over year for the quarter, led by double-digit growth in ground and FedEx International Priority(R) shipments. FedEx Freight average daily less-than-truckload (LTL) shipment volume increased 9%. FedEx Express, FedEx Ground and FedEx Freight each reported solid yield improvement.

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CEO of UK’s BT Group Elected to UPS Board

Posted by | Mar 17, 2005 | |

The Board of Directors of UPS today announced it had elected the chief executive of BT Group plc, Ben Verwaayen, as a new independent non-executive director of the company. Verwaayen, 53, will serve the balance of a term that expires in May of this year and will stand for re-election at the UPS annual shareowners meeting on May 5. “We are excited to add to our board an executive who brings such a strong international perspective,” said Mike Eskew, chairman and CEO of UPS. “We also will benefit greatly from Ben’s knowledge and experience in telecommunications and technology.”

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Nipost to commission IT system

Posted by | Mar 17, 2005 | |

The Nigerian Postal Service (NIPOST) has concluded arrangements to commission an Information Technology system that allows receivers of mail items to know the status of their mails while the mail is still in transit.

Speaking during the 2nd Bulk Post Venture Lecture at Sheraton Hotels and Towers in Lagos, the Postmaster General of the Federation, Alhaji Abubakar Musa Argungu, said when commissioned, the system would allow shakeholders access the status of mails from the computer right in their offices.

“The system, when in operation, will enable shareholders to know the status of their registered mail items given to the Post for delivery. Shareholders can access the status of the mail from the computer right in their offices.”

He stressed: “We want to assure our customers especially the Association of Capital Market Registrars, that by the end of the second quarter of 2005, our Bulkpost Venture will be in a position to ensure that the status of every registered mail item can be accessed at any point of the delivery chain.”

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Royal Mail rival picks stamp printer

Posted by | Mar 17, 2005 | |

Unique ID has printed a new business mail `stamp’ for private mail company DX Services. The stamp, the first contender to Royal Mail’s, will be trialled in Scotland and Ireland from next month. It will cost 28p, the same as a Royal Mail first class stamp, and DX said it will guarantee postal delivery before the next business day.

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Government to legally require post offices to be situated across Japan

Posted by | Mar 17, 2005 | |

The government promised the dominant Liberal Democratic Party on Thursday to incorporate a clause requiring that post offices be evenly situated nationwide when it draws up bills to privatize Japan’s postal system, party lawmakers said.

“We’d like to firmly ensure by law that post offices are situated so they can be used universally nationwide,” Chief Cabinet Secretary Hiroyuki Hosoda was quoted as saying in a meeting with the party. It was the government’s first concession over the postal privatization policy, which many LDP lawmakers oppose.

An LDP participant in the meeting later said the party will continue to seek further concessions from the government on privatization issues.

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New Zealand Post reports NZD40.4 mil half year profit

Posted by | Mar 17, 2005 | |

New Zealand Post today reported a net profit of NZD40.4 million for the half year ended December 31, up from NZD21.7 million for the previous corresponding period.

Operating revenue for the period was worth NZD618 million, up from NZD523.8 million, while operating expenditure rose to NZD559.2 million from NZD486.6 million.

An interim dividend of NZD19.2 million will be paid for the half year, up from NZD13 million for the same time last year.

NZ Post’s chief executive John Allen said the higher earnings were largely due to an improved performance by the Express Couriers business, and a NZD6 million gain from the sale of the Christchurch Mail Centre. Kiwibank was also a major contributor, having posted it first ever profit last month, when it announced a half year net profit of NZD2.5 million, up from a NZD1.5 million loss the same time the previous year.

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