Tag: Europe

Finland Post Logistics to start Moscow Operations ahead of time

Posted by | Nov 15, 2006 | |

Finland Post’s first logistics centre will start operating in Moscow in February 2007, earlier than planned. The new logistics centre and Russia’s strong economic growth will enable Finland Post Logistics’ development and expansion in western Russia in the next few years.

Used by Finland Post Logistics, the logistics centre has an area of some 20,000 square metres. It will provide contract logistics services, including finishing services such as preparing goods for delivery in Russia, service warehousing and delivery services, as well as transport and forwarding services in the growing Russian market. The centre has paid special attention to security requested by customers, which meets the highest international standards.

The first customers in need of contract logistics services include international electronics and IT corporations, such as Canon and Brightpoint, but the centre also expects Finnish grocery companies and specialty goods companies to number among its customers.

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Business Post H1 pretax falls; trading in line, co sees 'much improved' H2

Posted by | Nov 15, 2006 | |

Business Post Group PLC said current trading is in line with its hopes and it expects a ‘much improved’ second half as its pretax profit fell to 1.7 mln stg in the first half from a restated 3.3 mln stg last year.

The company posted sales of 153 mln stg, up 15 pct from 133 mln stg last year with UK mail sales up by 157 pct from 15 mln stg in 2005 to 37 mln stg in the first half of 2006.

Business Post declared an interim dividend of 6.4 pence per share, the same as last year.

The company said good progress has been made in addressing the operational issues in the Parcel Services business and UK Mail has continued to grow strongly, reinforcing its position as the leading competitor to Royal Mail.

The company said it is creating a robust platform to achieve its strategic aim of developing itself as the UK’s leading independent integrated postal group.

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Target Express opens up southeast European connections with Bulgaria

Posted by | Nov 14, 2006 | |

Target Express has further enhanced its European connections with a new partner for Bulgaria which joins NetExpress Europe (NEE) on 1 October. The recent agreement comes prior to Bulgaria joining the EU in January 2007 and will provide a more comprehensive European network for Target Express customers.

NetExpress Europe announced Interlogistica as the new Bulgarian member, joining thirteen other partners of this unique network. The agreement allows Target Express to be connected to a country that will receive multi-billion euro investment, making a massive impact on its economy especially with regards to its logistics industry. Stuart Godman, Sales & Marketing Director, Target Express commented: “Interlogistica is one of the largest express delivery agents in Bulgaria and will be an asset to NEE providing the first network connection to southeast Europe.”

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Business Post Group plc – Interim Results 2006/07

Posted by | Nov 14, 2006 | |

Highlights
Group revenue up 15% to £153m (2005: £133m)

UK Mail revenue up 157% to £37m (2005: £15m)

Operating profit (before exceptional items) £3.5m (2005: £6.6m)*

Profit before tax (before exceptional items) £3.2m (2005: £6.5m)*

Exceptional charges of £1.5m (2005: £3.2m)

Profit before tax £1.7m (2005: £3.3m)*

Interim dividend 6.4p per share (2005: 6.4p)

*as restated for prior year adjustments.
Guy Buswell, Chief Executive said:

“Good progress has been made in addressing the operational issues in the Parcel Services business which undermined our performance last year, and UK Mail has continued to grow strongly, reinforcing its position as the leading competitor to Royal Mail.

We have recently undertaken a review to establish the medium term strategic agenda for the Group, which is to develop Business Post into the UK’s leading independent integrated postal group. We are creating a robust platform from which this can be achieved.

Current trade remains in line with our expectations and the Board expects a much improved second half.”

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MPs back government's decision over VAT on postage stamps

Posted by | Nov 14, 2006 | |

The government has seen its controversial decision to refuse to impose VAT on postage stamps backed by MPs on the Commons European Scrutiny Committee today, despite mounting pressure from Brussels.

MPs decided to keep the issue under scrutiny, after noting that the European Commission had not withdrawn the proposal for a draft directive removing the exemption.

The European Commission has recommended allowing a reduced VAT rate of 5% for addressed letters and packets up to 10kg, the application of the tax to postal operators supplying final delivery services under contract to private operators, and creating a special tax accounting system for postal operators. It also said member states were required to make the changes at the end of this year [2006].

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