The German postal service Deutsche Post plans to
eliminate around 1,000 managerial posts in its courrier division and reduce
the number of regional depots by 40 percent, a spokesman said on Monday
European postal companies are bucking the trend of poor results from their international rivals. D Post & TPG report growth in contrast with slumping profits at UPS and Fedex.
Read MoreDeutsche Post recorded an operating profit of XEU1.41bn for the first six months of 2001
Read MoreAs expected, the German logistics provider increased turnover by 7%
to E16.8bn (Dollars 14.66bn). Earnings before interest and taxes
went up 5.5% to E1.4bn. However, net profits, fell slightly from E1.1bn to E1.05bn. ‘The
primary reason for this was the year-on-year increase in the tax
ratio, due to the consumption of tax loss carry-forwards,’ said
chief executive Klaus Zumwinkel.
The German government plans to introduce legislation that would allow it to sell its majority stake in Deutsche Post as early as next year. Legislation expected to be enacted by the end of the year would reverse an earlier law that requires the government to hold a majority stake in the postal service for at least five years after its initial public offering, which was held last November.
Read More
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.
