Tag: Courier/Express/Parcels

FedEx Express announces acquisition of Indian express company PAFEX

Posted by | Jan 31, 2007 | |

FedEx Corporation announced today that its FedEx Express unit had completed the previously announced acquisition of its Indian service provider, Prakash Air Freight Pvt. Ltd. (PAFEX).

PAFEX, formerly a privately held company, is one of the largest domestic express companies operating in India, with more than 384 offices and depots serving nearly 4,400 destinations. The nationwide network covers every city in India. PAFEX began domestic express operations in India in 1986 and has been the FedEx service provider in India since 2002.

According to the goal set by the Indian Minister for Finance in the most recent budget, Indian exports will reach USD150 billion by 2008-2009. The acquisition of PAFEX allows FedEx Express to invest more effectively and directly in the long-term growth and prosperity of India’s economy.

The acquisition consolidates the resources of the two companies and ensures customers continue to receive the same reliable, seamless service they have come to expect from FedEx.

“As a fast-growing, market-driven economy that recorded 8.4 percent growth between 2005 and 2006(a), FedEx believes India is poised to take a leading role on the world’s stage as an economic superpower, and we want to be partners in making it happen,” said Jacques Creeten, FedEx Express vice president – India.

PAFEX day-to-day services will remain unchanged for the foreseeable future.

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UPS profit is up. Slower Growth Seen

Posted by | Jan 31, 2007 | |

United Parcel Service Inc. reported a 7.5 percent increase in fourth-quarter earnings yesterday, but said that profit growth would slow this year.

Shares of United Parcel fell 95 cents on the news, closing at USD72.70.
Net income rose to USD1.13 billion, or USD1.04 a share, from USD1.05 billion, or 95 cents, in the period a year earlier, the company said yesterday. Sales increased 5.6 percent, to USD12.63 billion.

United Parcel said profit growth would lag behind last year’s 11.2 percent rate because slowing industrial production would curb high-margin air shipments.

U.P.S.’s 2007 forecast calls for profit of USD4.10 to USD4.25 a share, compared with last year’s USD3.86. That would be an increase of 6.2 percent to 10 percent.

The company’s fourth-quarter results matched forecasts for earnings of USD1.04 a share, the average of 15 analyst estimates compiled by Bloomberg. Analysts had estimated 2007 earnings of USD4.30 a share.

“We are expecting the first half of the year to be somewhat flat,” the chief financial officer, D. Scott Davis, said. “It’s just a moderating economy that we expect to get back on trend by the end of 2007, early 2008.”

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Argentina DHL Express opens three offices in Buenos Aires

Posted by | Jan 30, 2007 | |

DHL Express has opened three new service centres in the Argentine capital Buenos Aires.

Two of the service centres are in the shopping centres Buenos Aires Design and Alto Palermo, and there is also one unit in the Buenos Aires neighbourhood of Parque Patricios. The cost of the new units was not disclosed.

DHL Express announced that the opening of the centres is part of its strategy for Argentina, which also includes the expansion of its services to new areas within the country. DHL Express plans to invest $11 mln (8.5 mln euro) between 2006 and 2011 in improving its door-to-door service in Argentina and covering 150 Argentine cities.

DHL Express also plans to expand its office in the U.S. embassy in Buenos Aires.

Currently DHL Express has a chain of 18 points in Argentina. There are 12 in Buenos Aires and six in the interior of the country, namely in the larger cities and industrial centres Cordoba, Rosario, Mendoza, Mar del Plata, Neuquen and Salta.

DHL operates in Argentina since 1947. DHL considers that the Argentine economy is performing very well and has recovered after the economic crisis in 2002, which is the main reason DHL wants to boost its investments in the country

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Industry shows commitment to enablin women to succeed

Posted by | Jan 30, 2007 | |

Minister for Women, Ruth Kelly, launched a new drive today to step up efforts to reduce the gender pay gap and promote better work-life balance throughout the workplace.

She announced that more than 100 companies and organisations have signed up to a Exemplar Employer scheme since its launch in September. The Exemplar Employer scheme requires organisations to give a clear commitment to reducing the gender pay gap through projects ranging from encouraging women to find out and enter into jobs traditionally done mostly by men, to supporting mothers to return to work, to creating better quality opportunities for staff working part-time.

The first wave of organisations signed up range from high street names such as Asda to city companies such as Goldman Sachs to Parcelforce to construction firms.

Ruth Kelly also launched and opened bids for a new Quality Part-Time Work Fund, available to employers to finance trouble shooters who will advise on how to create and retain more part time jobs for women at a senior level.

Both the Exemplar Employer and Quality Part Time Work schemes have been created by the Government in response to the Women and Work Commission report, which looked at the causes of the gender pay gap. Creating a more flexible working world was one of the key recommendations made by the Commission as a way to way to increase the number of women – and the quality of roles available part-time and flexibly – in the workplace.

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UPS reports solid 4th quarter as global package business grows

Posted by | Jan 30, 2007 | |

Led by a strong performance in its international operations, UPS today reported net income of USD1.13 billion and a 10% increase in diluted earnings per share to USD1.04 for the fourth quarter ended Dec. 31, 2006.

For the full year of 2006, revenue rose almost 12%; operating profit increased 8%, and earnings per share climbed 11.2% to USD3.86. The international business reached new heights, reporting more than USD1.7 billion in operating profit. The company set a new record for package volume in 2006, delivering almost 4 billion packages or an average of 15.6 million per day.

Consolidated Results 4Q 2006 4Q 2005
Revenue USD12.6 B USD12.0 B
Operating profit USD1.8 B USD1.7 B
Operating margin 14.3% 14.3%
Average volume per day 17.3 M 16.8 M
Diluted earnings per share USD1.04 USD0.95

During the quarter, UPS announced the expansion of its international shipping portfolio by providing three time-definite delivery options each day to the world’s 30 largest markets, up from one or two daily options. These new delivery services make UPS’s international delivery portfolio the most expansive in the industry and cover more than 80% of the world’s GDP.

The Supply Chain and Freight segment improved from the third quarter, reflecting the positive impact of cost control measures taken in the fourth quarter. UPS Freight’s performance was impacted by the general softening in the Less-Than-Truckload (LTL) environment.

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