La Poste 2001 Financial Press Release
La Poste 2001 Financial Press Release
Read MoreTag: France
La Poste 2001 Financials Released
French state-owned post office La Poste (F.PST) Thursday reported a net loss of EUR95 million [US$84 million] in 2001, as it wrote down EUR170 million [US$150 million] in goodwill amortization following the restructuring of its parcel delivery unit, GeoPost. That net loss compares with a net profit of EUR139.2 million [US$123 million] in 2000.
Read MoreReturn to Profitability at La Poste
La Poste (F.PST) Chairman Martin Vial promised a swift improvement in profitability in 2002 after a EUR170 million write-off at its Geopost express parcel delivery subsidiary pushed France’s powerful national post office to its worst result since 1998. ‘We had a difficult year in 2001,’ said Vial in an interview Thursday with Dow Jones Newswires. ‘Our outlook is for a recovery and a return to increased profitability in 2002.’ La Poste – Europe’s second largest post office by revenue after Deutsche Post AG – reported a net loss of EUR95 million in 2001, down from a profit the year before of EUR139.2 million. As well as the EUR170 million Geopost write-off, La Poste said its earnings were dented by a combination of slower economic growth in France, higher transport charges and extra costs linked to the switch to the euro and a new 35-hour work week.
Read MoreLa Poste to announce drop in profits
La Poste, the French post office, is to announce its results for 2001 today. Chairman Martin Vial has said that profits have been affected by the economic slowdown and the anthrax scare. The last quarter of 2001 was characterised by a fall in activity caused by the increasing use of e-mail and the Vitale card.
Read MoreGefco Group: Interview with Louis Defline
The French Gefco Group is one of the leading European providers of transport networks and logistics services. Between 1998 and 2000 the group enjoyed the third highest growth rate worldwide among European-based logistics specialists due to the strong expansion in the automobile industry. ITJ editor-in-chief Ursula Schmellng recenily talked to CEO Louis Define in Paris about the results for 2001 and his expectations for the future.
Read MorePost & 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.