Tag: Europe

UK govt confirms 1.75 bln stg Royal Mail package as FY profits rise 17.5 pct

Posted by | May 18, 2006 | |

The government today confirmed a 1.75 bln stg financing package for the Royal Mail as the UK’s main postal service unveiled a 17.5 pct increase in annual profits. The government package, structured as a 900 mln stg loan on commercial terms to be paid back by 2013 plus an 850 mln stg draw on the Royal Mail Reserve to help plug an estimated 5.6 bln stg deficit in the organisation’s pension scheme. Aside from the pension deficit, the package is aimed at funding modernisation of Royal Mail’s infrastructure to enable it to cope with the UK postal market being opened up to greater competition. ‘Giving Royal Mail the freedom to use its financial resources to invest for the future puts the company in a stronger position to successfully compete in the marketplace and also deliver a financial return for the taxpayer,’ said Trade and Industry Secretary Alistair Darling.

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Royal Mail delivers record quality of service with GBP355m operating profit

Posted by | May 18, 2006 | |

Royal Mail today announced a 17.5% increase in operating profit to GBP355 million in 2005-06, a year in which new quality of service records were set with the vast majority of letters exceeding their targets.

All four of Royal Mail’s businesses – Letters, the Post Office®, Parcelforce Worldwide and the European parcels business, GLS – improved their financial performance.

The outstanding financial result has triggered a GBP418 Share in Success payment to Royal Mail’s people, amounting to a payout of nearly GBP100 million.

Allan Leighton, Royal Mail’s Chairman, said: “Royal Mail and its people have delivered record quality of service to customers and achieved an outstanding financial performance in 2005-06.

“The results show that Royal Mail has consolidated the gains it made during its three-year renewal plan when the business returned to profit and began to hit service targets instead of routinely failing them.”

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Palletforce aims to be no. 2

Posted by | May 18, 2006 | |

Palletforece will overtake Palletline and Pall-Ex within the next 18 months to become the second largest pallet network by volume, chief executive Mick Scarlett told MT last week.

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Palletways goes Swiss

Posted by | May 18, 2006 | |

Palletways has appointed a Swiss member as it seeks to create the first pan-european pallet network. Universal Expres, based in Munchenstein/Basel, will provide a 48/72 hour distribution services withe exclusivity in Switzerland, France zip code 68 and Germany zip code 79.

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