Tag: Europe

It’s a regulatory roll over! Comment from UK Postwatch

Posted by | Mar 22, 2005 | |

In 2003/04 Royal Mail famously failed every one of its 15 minimum performance targets. These targets were set by Postcomm on advice from Postwatch and included in Royal Mail’s licence. Yet despite this worst ever performance the Regulator has decided after 12 months of deliberation not to fine Royal Mail. Postwatch believes the regulator has rolled over. Customers have suffered; Royal Mail has got off scot-free. The regulator is hiding behind GBP60 million of compensation, which customers were separately entitled to. In May 2004 Postcomm predicted that compensation to bulk mailers alone could reach GBP80 million. In practice, only GBP43 million has been paid due to ‘loopholes’ in the scheme written by Postcomm. Customers have been short changed by more than GBP30 million. Peter Carr, commenting on Postcomm’s announcement of no action said: “This is a bad day for customers and a missed opportunity.”

Read More

Postcomm report points to improvement in Royal Mail service

Posted by | Mar 22, 2005 | |

Royal Mail today welcomed the decision of the postal regulator Postcomm not to fine the company for a dip in quality of service during the autumn and winter of 2003/2004, or to impose compensation payments beyond those historically agreed. A report issued today by Postcomm says the main factors adversely affecting service were industrial action at the end of 2003 and a serious fire at a mail centre a year ago – and that Royal Mail “did all it reasonably could” to reduce the impact of those events on customers. It applauds the “extensive and effective action” by Royal Mail to restore service quality – currently running at the best levels in a decade, acknowledges the operational changes made by Royal Mail were right – both for the business and its customers and confirms that no further compensation payments are due to customers beyond those previously agreed.

Read More

GBP60m returned to UK postal customers in compensation

Posted by | Mar 22, 2005 | |

Royal Mail has forfeited GBP60 million to customers because of its poor service quality in 2003/04 when it missed all its main service quality targets, Postcomm revealed today. In view of this — and a number of other measures agreed by Royal Mail — Postcomm has decided not to impose further financial penalties on the company. Postcomm’s judgement takes account of the serious shortcomings in Royal Mail’s performance during the period, but also the extensive and effective action it has taken since then towards putting matters right.

Read More

Deutsche Post World Net posts 3.35 billion euros EBITA and Group confirms 2005 earnings forecast

Posted by | Mar 22, 2005 | |

Deutsche Post World Net reported a strong 2004 with overall improved results. Revenue climbed by 7.9 percent to about 43.17 billion euros. The Group’s profit from operating activities (EBITA), at around 3.35 billion euros, was 12.5 percent higher than in the previous year. Net income rose 21.3 percent to about 1.59 billion euros compared with the previous year’s level. This corresponds to earnings per share of 1.43 euros; in 2003, EPS was 1.18 euros per share. As a result of the strong performance, a dividend increase to 50 euro cents per share from 44 euro cents will be proposed. Chairman of the Board of Management Klaus Zumwinkel said the results were a “splendid conclusion to the business year.” The company is well positioned strategically, operationally and financially, and will continue to grow both regionally and in the business segments from the global platform it has created.

Read More

Deutsche Post posts 2004 EBITA of 3.35 billion euros

Posted by | Mar 22, 2005 | |

Deutsche Post World Net reported a strong 2004 with overall improved results. Revenue climbed by 7.9 percent to about 43.17 billion euros. The Group’s profit from operating activities (EBITA), at around 3.35 billion euros, was 12.5 percent higher than in the previous year. Net income rose 21.3 percent to about 1.59 billion euros compared with the previous year’s level. This corresponds to earnings per share of 1.43 euros; in 2003, EPS was 1.18 euros per share. At the end of 2004, measures under the STAR value-creation program had contributed a cumulative 862 million euros to earnings, or 23 percent above the originally planned 700 million euros

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest