Tag: Europe

Royal Mail 2007-08 Quality of Service report (UK)

Figures released today by Royal Mail confirm that, as previously announced, industrial action last year damaged services for postal customers. However the 2007-08 Quality of Service report also shows that the large majority of mail, including all bulk business mail, was performing at target or above target levels as the financial year ended in March 2008.

Ninian Wilson, Royal Mail’s Operations Director, said, “The immediate objective for everyone working in the business is to deliver further improvements in Quality of Service to customers and restore the record levels seen before last year’s dispute.”

92.2 pct of First Class letters were delivered the working day after posting in the final Quarter of the year, compared to 79.3 pct in the third Quarter and 78.4 pct in the second Quarter, when industrial action first disrupted services. The dispute meant the full year First Class performance fell below target at 85.2 pct.

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Good quarterly results for Swiss Post

Swiss Post grew steadily in the first three months of 2008. Group profit for the first quarter was CHF 228 m, exceeding CHF 200 million for the third successive year (Q1 2007: CHF 281 m). The decline from 2007 is due to lower results in logistics activities resulting from increasing cost pressures and fewer real estate sales. Consolidated equity as at 31 March 2008 amounted to CHF 2,356 m after appropriation of profit (31 December 2007: CHF 2,470 m).
Operating income was CHF 2,173 m, not far behind the level achieved in the first quarter of the previous year (CHF 2,185 m). Over two thirds of this was generated by the PostMail, PostLogistics and PostFinance Group units.
At CHF 76 m, PostFinance’s operating result is in line with last year’s figure, making it one of the few nationally active financial institutions in Switzerland to have retained its good results despite the crisis in the financial market. Operating income for the first quarter increased significantly to CHF 512 m (Q1 2007: CHF 445 m). The main reason for this is the higher-than-average increase in customer deposits to CHF 45.8 bn (December 2007: CHF 43.7 bn). In the first three months of 2008, 53,000 new accounts were opened – almost 50% more than in the first quarter of 2007 (37,000 new accounts). 1 USD = 1.04507 CHF

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TNT Fashion to lease major facility in Amsterdam

TNT Fashion is to lease a large logistics facility in Amsterdam which it will operate for a major customer, M&S Mode.

Construction of the 21,600 sqm premises at the Amsterdam Greenport Business Park started in April and TNT Fashion expects to starts operations at the site in early 2009, under a 10-year lease.

TNT Fashion, the TNT group’s fashion logistics unit, will use the Greenport facility for the logistics operations of its customer M&S Mode. The facility combines 16,000 sqm of operating area and 5,600 sqm for offices.

Amsterdam Greenport is located on a 30-hectare site in the port of Amsterdam and is close to Schiphol airport.

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Bristol And Somerset Post Office® Branches – Decisions Announced

Post Office Ltd today announced decisions on the future of Post Office® branches across Bristol and Somerset following a six week public consultation which ended on 9 April. Post Office® services will be provided through a network of branches, which supports the national accessibility criteria introduced by the Government and ensures that over 99% of Bristol and Somerset’s population will either see no change to their existing branch or will remain within one mile (by road distance) of an alternative branch.

The plan confirmed today means that 62 branches will close in Bristol and Somerset with the first closures scheduled to take place in late June 2008. These branches were detailed in the Area Plan proposal published on 26 February 2008.

Post Office branches at Bear Flat, Lower Weston and West End originally proposed for closure will remain open, following a review of the issues raised during consultation. Details of any branches proposed for closure in place of those that are to remain open will be announced shortly. The new proposal would be subject to a period of public consultation.

The replacement of seven branches by outreach solutions was also confirmed today.

During the six week local public consultation, Post Office Ltd received around 3800 responses and attended 18 meetings with customers and their representatives to understand their concerns. All information provided by customers formed part of the final decision regarding each affected branch.

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Wincanton moves into aerospace

Wincanton is buying Product Support Holdings Ltd (PSHL), which offers logistics services to defence and aerospace markets, in a deal worth up to GBP30m.

This is Wincanton’s second bid of the month. Only a couple of weeks ago it Wincanton announced that it wanted to buy TDG. It has been given until 20th June by the City Takeover Panel to decide whether it will go forward with an offer.

PSHL operates from 25 sites, mostly in the UK, and employs 422 people. Customers include AgustaWestland, BAE Systems and Honeywell.

Its core expertise lies in the management of time-critical spare parts and components. Its services include specialised storage, protective packaging design and manufacture, security screening and distribution. Wincanton believes there is scope to develop these areas of expertise into new sectors. PSHL has already had initial success with new business wins in the petroleum industry.

Wincanton is paying GBP27m initially with up to a further GBP3m payable subject to the financial performance of PSHL in the period to 31 March 2009. In the year to 31 March 2008, PSHL reported sales of GBP19.4m, and EBITDA of GBP3.6m.

This acquisition is the latest in a series of in-fill acquisitions designed to boost Wincanton’s profitability, and broaden its business base.

Graeme McFaull, Wincanton’s chief executive, said: “PSHL’s market-leading expertise, in new industries for Wincanton, will provide a further exciting growth opportunity.”

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