Freightways today reported a 46 percent jump in its half year net profit. The courier firm reported a net profit of NZD11 million for the half year ended December, up from NZD7.7 million for the same period the previous year. Earnings before interest tax and amortisation (ebita) rose 28 percent to NZD26 million. A fully imputed interim dividend of 7.5 cents per share will be paid on March 31, up from 5.85cps.
Read MoreTPG NV is currently in a process of negotiations with banks on a new credit facility with a value of 1.0 bln euro (USD1.28 bln), a company spokesperson said on February 7, 2005. The spokesperson made the statement in a response to media announcements earlier on February 7, 2005. The new credit facility will have a term of seven years, and is to replace the existing 600 mln euro (USD770 mln) credit facility. The new credit will be used to increase TPG’s financial flexibility and liquidity, the spokesperson said.
Read MoreDHL will from today take its electricity from a green energy source supplied by Scottish and Southern Energy (SSE). Instead of traditional electricity, 181 UK offices will now be drawing energy from a good quality combined heat and power source (CHP). Unlike conventional forms of power, CHP is a fuel-efficient energy that puts the heat by-product normally wasted to environmental good use.
This initiative contributes to DHL`s current goal of achieving global ISO 14001 certification, the international standard for environmental management systems and reinforces DHL`s commitment to being environmentally responsible.
UPS today announced it has agreed to acquire Messenger Service Stolica S.A., one of the leading parcel and express delivery companies in Poland. Terms of the deal were not disclosed. UPS expects to complete the transaction early in the second quarter of 2005, subject to customary closing conditions. The Warsaw-based Stolica offers customers a full suite of domestic delivery services through a strong nationwide network backed by advanced technology and an experienced workforce. The company has been operating in Poland, Central Europe’s largest economy, since 1993. Stolica’s customers include some of the most recognized brands in Poland across a broad range of industries, and company sales in 2004 totaled almost PLN 200 million (USD64 million).
Read MoreAer Lingus has rescinded its decision not to carry An Post mail to Britain and Europe and is continuing to ferry the post six days a week for the cash-strapped postal company. Last September, as part of further cost cutting moves, the airline announced that it would axe its postal and courier service to Britain and Europe from January 1 this year leaving An Post with no option but to look for another service provider.Aer Lingus had earlier signalled that it would drop cargo services in Europe from the start of this year. At the time An Post chief operating officer Larry Donald said the company would look at alternatives for its outbound mail service and warned there would be a cost issue for An Post which had operating losses of 30m in 2003.
Read MoreThe Italian post office, Poste Italiane, saw its mail volume rise by 10 per cent last year, to 7.2 billion items. At the same time, there was a double-digit increase in mail revenues, owing to growth in the most profitable segments of the market, such as direct marketing and commercial post. Poste Italiane has now decided to forge closer links with its French counterpart, La Poste, by making its unit-linked life assurance policies available in French post offices. At the same time, it has raised its stake in Aspheria, its joint-venture with La Poste, to 40 per cent.
Read MoreAnother competitor to Royal Mail will later this month face court action for throwing away mail. Postcomm, the industry regulator, will present evidence against an individual working for one of Royal Mail’s rivals at Redditch, West Midlands. It will be the second prosecution of a new postal operator in two months as the regulator aims to ensure that service standards are maintained.
Competitors to Royal Mail include Express Dairies, UK Mail, Deutsche Post, TPG and Hays DX. A spokesman for Postcomm said: “There will be more prosecutions. We hope there won’t be too many more, but we have to ensure that the new operators maintain adequate standards.” Postwatch, the consumers’ group, said: “The higher profile the action against dumping, the better, as it is one of the constant problems in the postal service. But it also does not seem a level playing field when rival operators face prosecution but Royal Mail deals with dumping incidents itself.”
An Post will soon be competing with credit unions when it starts offering a range of banking and financial services, if proposals by senior management are accepted by the board of the company. In a significant shake-up of its commercial strategy, An Post management believes it should offer banking and credit facilities, ATM services and financial products such as home and life insurance to customers. The new financial services portfolio will be put to the board of An Post in the coming months. It is unlikely to include mortgages, opting instead to compete at the lower end of the scale with credit unions.
Donal Curtin, the chief executive of An Post, told a Dail committee on communications last week that he aimed to “capitalise on the footfall in our offices and, in particular, develop a financial services portfolio capable of delivering significant levels of profitable business'”.
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