R.R. Donnelley & Sons Company has announced that it has reached an agreement to sell its package logistics business to Heritage Partners, Inc., a Boston-based private equity firm that is the principal owner of American Package Express (“APX”). The agreement is subject to regulatory approval and is expected to close by the end of the third quarter, 2004.
Read MoreTPG announces record second quarter margins in Mail and Express. CEO Peter Bakker commented: “I am pleased with the increase of almost 31% in operating income over the second quarter as it underlines excellent execution in our businesses. These strong results are achieved in economic conditions that are getting better but are still mixed, looking at our different geographical markets and sectors. With an improved outlook in Mail and Express, TPG is able to reiterate with increasing confidence that good improvements in operating and net income will be achieved in 2004.” Highlights include operating income up 30.8% in second quarter, record second quarter margins in Mail and Express, Logistics turnaround on track, net income up 31.5%, free cash flow up EUR39 million and interim dividend up 11% to EUR 0.20 per share.
Read MoreDeutsche Post World Net reported a strong first half: Profit from operating activities (EBITA) rose by 14.5% to 1.682 billion euros. Consolidated net profit rose 10.9% to 721 million euros. Earnings per share increased to 0.65 euros. Second-quarter EBITA increased by 45.2 percent to 752 million euros, while second-quarter net profit nearly doubled to 280 million euros. Group revenue rose by 9.6 percent to about 21 billion euros in the first half-year of 2004. Revenue grew by 11.6 percent to 10.5 billion euros in the second quarter. The share of revenue generated outside of Germany rose by some 27 percent in the first half to about 9.9 billion euros, comprising nearly 47 percent of total group revenue. “We are very satisfied with our earnings performance this year, particularly the increases we were able to register in the second quarter,” said Klaus Zumwinkel, Chairman of the Management Board. “Our internationalization strategy is beginning to contribute handsomely to our overall results and we are competing vigorously throughout the world.”
Read MoreLYNX Express has forged a new alliance with PALLET-TRACK, the fast growing specialist pallet network to create a new force in pallet distribution. The move is a major opportunity for LYNX to increase significantly its already large share of the overnight pallet market. The service will be distinct and separate from that currently provided on a captive basis by the wholly owned LYNX Express depot network and fleet. The pricing structure, service proposition and terms of transport will be more closely aligned to meet demand for specialised pallet movements, particularly multiple part shipments. LYNX joins the expanding PALLET-TRACK network as one of the company’s new members alongside 55 others operating on a well established system which currently handles over 1400 pallets per night.
Read MoreIncludes financials, organisation chart, volumes & statistics
P:LibraryTPG pg_corporate_information_august04.pdf
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