Tag: International

FedEx Corp. Reports fourth quarter and full year earnings

Posted by | Jul 17, 2008 | |

FedEx Corp. (reported a loss of USD 0.78 per share for the fourth quarter ended May 31, compared to earnings of USD 1.96 per diluted share a year ago. The quarter’s results include the previously announced charge of USD 891 million (USD 696 million, net of tax, or USD 2.22 per diluted share) related predominately to one-time, non-cash asset impairment charges. These charges were associated with the decision to minimize the use of the Kinko’s trade name and a reduction in the value of the goodwill resulting from the Kinko’s acquisition. Last year’s fourth quarter included a USD 0.06 per diluted share net benefit from a settlement with Airbus related to the A380 aircraft order cancellation. Excluding these items, earnings were USD 1.45 per diluted share in the fourth quarter compared to USD 1.90 per diluted share a year ago.

Read More

FedEx Corp. Reports fourth quarter and full year earnings

Posted by | Jul 16, 2008 | |

FedEx Corp. reported a loss of USD 0.78 per share for the fourth quarter ended May 31, compared to earnings of USD 1.96 per diluted share a year ago. The quarter’s results include the previously announced charge of USD 891 million (USD 696 million, net of tax, or USD 2.22 per diluted share) related predominately to one-time, non-cash asset impairment charges. These charges were associated with the decision to minimize the use of the Kinko’s trade name and a reduction in the value of the goodwill resulting from the Kinko’s acquisition. Last year’s fourth quarter included a USD 0.06 per diluted share net benefit from a settlement with Airbus related to the A380 aircraft order cancellation. Excluding these items, earnings were USD 1.45 per diluted share in the fourth quarter compared to USD 1.90 per diluted share a year ago.
Full Year Results
FedEx Corp. reported the following consolidated results for the full year:
• Revenue of USD 38.0 billion, up 8 pct from USD 35.2 billion the previous year
• Operating income of USD 2.08 billion, down 37 pct from USD 3.28 billion last year
• Net income of USD 1.13 billion, down 44 pct from last year’s USD 2.02 billion
• Earnings per share of USD 3.60, down 44 pct from USD 6.48 per share a year ago
Capital spending for fiscal 2008 was USD 2.9 billion. Fiscal 2007 results also included costs associated with upfront compensation and benefits under the new pilot labor contract at FedEx Express, which reduced second quarter earnings by approximately USD 0.25 per diluted share. Excluding the above items, earnings were USD 5.83 per diluted share for the year compared to USD 6.67 per diluted share a year ago.

Read More

DPD launches new modeshift campaign

Posted by | Jul 16, 2008 | |

DPD has launched a new modeshift campaign promoting its product DPD Classic and committing itsself to sustainable development under the slogan “Why fly parcels in Europe?”.

As part of the new campaign, the multi-language website www.whyflyparcels.com represents different aspects of DPD’s sustainability strategy introducing the modeshift concept as well as the ECO Calculator. This web-based calculator which calculates the CO2-equiv. emissions representing all green house gases produced during the transportation of package consignments by road and in the air.

The company’s strategy for ecologically and economically sound trade is helping shippers make a better choice. With whyflyparcels.com DPD shows that flying parcels within Europe can create up to eight times more CO2 equiv. although air freight remains the ideal method of transport for goods are required urgently such as relief supplies, high-value goods or spare parts that need to be transported over great distances. The company points out that there are numerous non time-critical goods and that could easily be transported by road and not by air.

The ECO Calculator allows customers to compare the effects of the two transport modes by road and by air on climate change. The simulation is based on a totally virtual network and uses data to reflect the reality in a best possible way. It has been supported and assisted by an independent sustainable development agency O2 France relying upon expert sustainable development knowledge.

Read More

FedEx trials diesel-electric hybrids in Italy

Posted by | Jul 16, 2008 | |

FedEx is trialling 10 Iveco diesel-electric hybrid Daily vans in its Italian operation. Iveco claims the vans offer a 30 pct cut in fuel use and CO2 emissions over a standard diesel model, through a number of systems such as Stop & Start and regenerative braking.

Paolo Monferino, Iveco’s CEO, says: “We are committed to the development of this technology and the next step is to make it affordable for our customers. In order to meet customer demand, Iveco will
will introduce hybrid power train technology in our vehicle production facilities by the end of 2009.” The vehicles will be used on routes between Milan and Turin, but FedEx will test more of the vehicles in its Paris operation.

Read More

German cabinet approves minimum wage extension

Posted by | Jul 16, 2008 | |

Chancellor Angela Merkel’s government approved a draft law on Wednesday that could nearly double the number of German workers protected by a sectoral minimum wage.
Labour Minister Olaf Scholz’s plan to enable more sectors of the economy to introduce a minimum wage has come under fire from employers and been a sticking point in the ruling coalition of conservatives and centre-left Social Democrats (SPD) for months.
Scholz from the SPD, and Economy Minister Michael Glos, a conservative, came to an agreement late on Tuesday and the draft legislation was approved by the cabinet on Wednesday morning, government officials said.

A sector-specific minimum wage already applies to about 1.8 million employees in Germany across seven sectors, among them construction workers and postal delivery staff.

A further eight sectors, ranging from temporary workers to security personnel and comprising about 1.6 million employees, have sought inclusion in the minimum wage framework.

Germany’s total workforce numbers around 40 million.

The draft law allows for an extension of the so-called “Entsendegesetz”, an existing law which enables sectors of the economy to set their own minimum wage, but does not specifically name which new sectors will be included.

A working group under Scholz’s supervision has been charged with reconciling coalition differences over the new sectors.

The SPD has pushed for a blanket minimum wage for all, but Merkel’s conservatives reject this.

Glos, a member of the Bavarian Christian Social Union (CSU), was a particularly robust opponent of Scholz’s plans but dropped his opposition after a conversation on Tuesday evening with Merkel.

Merkel has softened her opposition to the idea of sector-wide wage deals since taking power in 2005 and had pushed for a compromise.

Glos succeeded in winning some concessions, notably an agreement which ensures government-decreed minimum wages are not permanent. That would theoretically allow a new government to reverse the wage law.

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

Post & 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.

Subscribe to the Magazine

 

Pin It on Pinterest