French post office La Poste has closed its franchise UK parcels business Panic Link, with the loss of 196 hub and head office jobs. The closure of the loss-making Pounds 15m (Dollars 35.7m) turnover business follows a strategic review by consultants KPMG, who recommended the parcels company be put into receivership.
Read MoreLa Poste is aiming to be one of the top three parcel post
deliverers in Europe according to chairman Martin Vial speaking in an
interview on Europe 1 radio.
Last year, the best financial results among Baltic postal companies were achieved by Latvijas Pasts (Latvian Post), the company has reported. Last year, Latvian Post saw revenue exceeding costs by 6.25m US dollars. The total revenue for last year amounted to almost 37.5m US dollars. Lithuanian Post amounted a profit of 1.95m US dollars on the total revenue of 34.21m dollars, while Estonian Post made a profit of 1.47m US dollars on the total revenue of 29m dollars.
Read MoreMetapack will take care of supplying orders for online retailers, but is held back by lack of a track record and by scepticism about the e-commerce sector
Read MoreThe race is set. UK companies and privatised European postal services are jostling to get a foot in the door of the soon-to-be deregulated UK postal market. The new market regulator, PostComm, will fire the starting gun at the end of the month when it issues proposals on how to increase competition
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