La Poste France announced break even group results, although negative and significantly below objectives at parent company level, illustrating the groups very insufficient profitability to face future challenges. La Poste announced modest revenue growth: EUR17.3 bn, +1.8% and a strong decline in operating income: EUR100 mn vs EUR221 mn in 2001, despite improving contribution from subsidiaries and productivity efforts.
Read MoreFrance’s state-owned postal service La Poste chairman Jean-Paul Bailly said he hopes to raise the business’ stake in the life insurance company CNP Assurances beyond the current level of around 17.5 pct.
Read MoreFrench industry minister Nicole Fontaine plans to introduce a bill to the Senate in June proposing the expansion of telecoms regulator ART’s jurisdiction to include postal services. If the change takes place, ART will become ARTP (‘Autorite de regulation des telecommunications et des postes’).
Read MoreNeopost, the European leader and number two world-wide supplier of mailing solutions, today announced record growth in sales and profitability in its 2002 financial year (ended 31 January 2003). The year was a busy one on the acquisitions front, with the completion of the Ascom Hasler and Stielow deals. These gave Neopost a new dimension with boosted sales to more than E800m on a pro-forma basis. Sales growth came with a surge in profitability, with EBIT up 60% and net income up 83%.
Read MoreThe French finance minister, Francis Mer, and his industry counterpart, Nicole Fontaine, will both appear before the French senate’s economic affairs commission today to answer questions about the future of the French post office (La Poste). Mr Mer is expected to be asked, among other things, about the possibility of expanding La Poste’s ranging of banking services, with the organisation acting as a distributor for the financial products of other companies.
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