Tag: Europe

National Audit Office report on UK post offices published

Posted by | Feb 24, 2005 | |

Postwatch welcomes the National Audit Office (NAO) report into the Department of Trade and Industry’s financial support for post offices. The report sets out the problems facing the post office network, and in particular, how changes to pension and benefit payments and customer shopping habits have put considerable financial pressures on many post offices. In this light, the NAO’s recommendation for continued business advice and assistance for subpostmasters is to be welcomed. The NAO confirms Postwatch’s concern that the introduction of pilots in rural areas by Post Office Ltd (POL) has thus far not progressed
sufficiently swiftly. In the coming months, POL needs to take significant
steps forward in exploring innovative delivery mechanisms that meet rural
customers’ needs.

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Seur to double overseas business within a year after La Poste tie-up

Posted by | Feb 24, 2005 | |

The recent tie-up between Seur and France’s La Poste has set up the Spanish delivery services group for strong international growth over the next five years.

According to Ramón Mayo, the vice president of Seur España, the alliance with La Poste will see the contribution of the Spanish group’s international operations to total turnover double within a year to 14 percent from 7 percent.

La Poste unit GeoPost acquired a 12.5 percent stake in Seur España out of the 21 percent put on the block by the founder of the Spanish group Justo Yúfera in February. The remaining 8.5 percent ended up in the hands of the 64 remaining partners in the transportation business.

Mayo said Seur had been looking at ways off expanding its overseas business for some time. However, he said the process of finding an international associate was complicated by the structure of the group, which is organized around 85 franchises handed out by its partners.

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Poste Italiane to focus on services – CEO

Posted by | Feb 22, 2005 | |

Italian state-owned postal services company Poste Italiane SpA plans to focus on services for the future, the CEO of the company, Massimo Sarmi, said on February 22, 2005, at the presentation of the financial accounts for 2004. In 2004, Poste Italiane registered 64.4 million mailings of packets and Corriere Espresso (express courier), down by 6.0 pct for the packets and up by 14.5 pct for Corriere Espresso, both compared to 2002.

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Poste Italiane net profit at 236 mln Euro 2004

Posted by | Feb 22, 2005 | |

Italian state-owned postal services company Poste Italiane SpA registered a consolidated net profit of 236 mln euro (USD310.8 mln) for 2004, compared to 90.3 mln euro (USD118.9 mln) for 2003. Poste Italiane’s net profit stood at 21.6 mln euro (USD28.4 mln) in 2002. The company’s earning before interest, tax, depreciation and amortisation (EBITDA) rose by 56.7 pct to1. 8 bln euro (USD2.37 bln). Operating profit dropped by 82 pct to 796.4 mln euro (USD1.048 bln). Turnover amounted to over 9.0 bln euro (USD11.851 bln).

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Deutsche Post 2005 net seen up 25 pct due to new IFRS accounting rules

Posted by | Feb 22, 2005 | |

Deutsche Post World Net AG expects net profit this year to be 25 pct higher than last due in part to the adoption of International Financial Reporting Standards (IFRS), a company spokeswoman said. Under German accounting norms there was a negative goodwill effect totalling 400 mln eur. This writedown will no longer be reflected under IFRS. ‘On an operating level, nothing will change,’ she said. She added that Deutsche Post’s US business is currently developing better than expected.

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