Tag: Australasia

Freightways Delivers Again With Record Full Year Result

Posted by | Aug 18, 2008 | |

Freightways Limited has been able to shrug off a challenging domestic market to achieve record revenues and earnings for the year ended 30 June 2008.
Managing Director Dean Bracewell reports that the successful execution of Freightways’ growth strategy in the Australian market, a sound result from its core express package division in a challenging local market and outstanding performance from the information management division, all combined to help the company continue its run of consecutive record annual results since listing on the NZX in September 2003.
Consolidated operating revenue for the year (to 30 June) of USD 324 million – topping USD 300 million for the first time – was 14pct up on the previous year, with earnings before interest, tax, depreciation and goodwill amortisation (EBITDA) of USD 68.5 million, 9pct ahead of the previous year. Earnings before interest, tax and goodwill amortisation (EBITA) of USD 60.5 million for the year were up 7pct on the previous year.
Cash generated from operations for the year before interest and tax was USD 67.5 million, 8pct higher than the previous year, while consolidated net profit after tax (NPAT) of USD 32.3 million was 5pct higher than the previous year.

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NZ Post still shores up Kiwibank

Posted by | Aug 6, 2008 | |

Kiwibak total assets at the end of March this year were NZD 6.6 billion, a 51 per cent increase on the previous year but still modest when compared to our biggest bank, ANZ National, with total assets of NZD 112.5 billion.

Kiwibank’s speedy growth means it continues to rely on its parent New Zealand Post for the additional capital it requires to back its increasing loan book. It cost taxpayers NZD 80 million to start. Since then about another NZD 260 million has been poured in, including NZD 55 million in additional capital in the 12 months to June last year, and probably a further NZD 30-40 million to to June this year.

“We will soon be in a position where we won’t need that additional capital,” says chief executive Sam Knowles. “We’re pretty close to that point where our profits will be supporting growth.”

Kiwibank remains a small bank, with only about a 2.5 per cent share of the market.

Last year, Kiwibank’s June year net profit was NZD 25.5 million, a 61 per cent increase on NZD 15.8 million in 2006, which was more than double 2005’s NZD 7.2 million first profit.

But their much smaller size aside, Kiwibank’s reported profits have always raised questions as to how comparable they are to those of other banks.

Sceptics say there has been no clarity over how much of Kiwibank’s bottom line is from business such as bill payments, which was previously part of NZ Post’s operations.

Mr Knowles says it Kiwibank’s sharing of NZ Post’s outlets would make any prospective sale of the bank somewhat problematic.

1 NZD = 0.722146 USD

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ACCC clears 5c postage stamp price hike

Posted by | Jul 31, 2008 | |

The consumer watchdog has cleared the way for Australia Post to seek government approval for a five cent increase in the cost of a basic postage stamp.

The Australian Competition and Consumer Commission (ACCC) says is not objecting to the postal monopoly’s plan to charge 55 cents from September 15.

“Because the proposed price increases do not involve Australia Post over-recovering the costs of providing … letter services,” commission chairman Graeme Samuel said.

But Australia Post’s proposal did not provide “sufficient certainty” to satisfy customers.

“Therefore, in its decision, the ACCC has established a framework for future price notifications that will encourage Australia Post to continue to reduce costs, improve productivity, and provide more certainty for customers,” Mr Samuel said.

The last time Australia Post increased the cost of the basic postage stamp was in 2003.

It will need approval from the federal government before implementing the increase.

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Hino hybrid and TNT express win transport awards

Posted by | Jul 22, 2008 | |

Australia’s first hybrid eco-truck has swept the field in the annual Transport Awards.

PowerTorque magazine presented Hino’s hybrid with the 2008 Technology and Innovation award.

And it recognised TNT Express as the first major courier and parcels delivery company to actively pursue the introduction of eco-friendly transport.

TNT Express has put 10 Hino Hybrid trucks on its national fleet.

TNT Express determined that the Hino Hybrid diesel electric hybrid emits 14 per cent less carbon dioxide than a conventional diesel engined truck of equivalent size.

The company estimates the saving will average 1600 kilograms of CO2 a year per vehicle.

Hino has committed itself to actively promote hybrid as a viable transport resource, especially in urban and suburban deliveries.

The company has spent more than two years promoting the concept in Australia and is now gearing up for a roll-out of new models.

The Hino Hybrid can shut down its diesel engine when the vehicle is stopped and smoothly restart when it is time to move off.

The vehicle captures energy generated under braking and returns it to special batteries for later use in the hybrid system.

TNT Express has further added to the green credentials of its 10 Hino Hybrids.
It has fitted special, strong polypropolene bodies for weight saving and recyclability, and a roof spoiler designed to cut wind drag during travel on many of the 80km/h ring roads which service major cities.

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Postal chief sees freight returning to rail and sea (Australia)

Posted by | Jul 7, 2008 | |

The international freight industry will face increasing pressure to cut back on flights and revert to sea and rail deliveries because of environmental concerns, the head of Australia Post predicts.
Australia Post’s managing director, Graeme John, who will be chairman of an annual meeting this week in Queensland of nine of the world’s biggest postal groups, said the problem of global warming would have an increasing influence on the way the global postal industry is run.
Mr John said growth in international freight from consumer goods such as electronics had been managed on a “just in time” basis, with air travel preferred to other forms of transport because of its speed advantage. But that approach was no longer viable.
The postal groups meeting this week – Australia, the United States, Hong Kong, Japan, South Korea, Spain, France and Britain – are members of the Kahala Post Group, a consortium created five years ago to help them compete with private freight companies.
Mr John instigated the consortium because he “wanted to do something about the dominance of the DHLs and the FedExs and UPSs in the international parcel network”, as did other former monopoly postal groups.
The Kahala group – named after a resort the members stayed at during their founding meeting in Hawaii – conceded they could not compete with the private companies on speed, so instead focused on reliability of delivery.
But to guarantee that reliability the Kahala members had to upgrade their tracking systems.
It also required the creation of a “delivery calculator” – a database of eight billion postcodes that allows a customer to walk into any postal outlet, list their destination and be told a precise window during which a parcel would be delivered.
While the private couriers already offered that certainty, and faster delivery, the Kahala members undercut their prices by 40 per cent to 50 per cent.
As well as pressure to shift towards less environmentally-damaging modes of transport, Mr John said a worsening economic environment could prompt a trend to slower “deferred” delivery services.
The Kahala partnership is also moving beyond postage, with Australia Post, China Post and the US Postal Service preparing to launch a group-owned money transfer service to compete against Western Union.

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