Tag: Mail Services

Italy will sell post group but dithers on Enel Privatisation

Posted by | Feb 24, 2005 | |

The Italian government yesterday made clear it would press ahead with the privatisation of Poste Italiane, the state-run postal services and banking group, but sent conflicting signals over whether it might sell another stake in Enel, the utility giant.

Silvio Berlusconi, prime minister, told reporters that privatisations were essential to cut Italy’s public debt, which stands at 106 per cent of gross domestic product.

“Debt reduction could happen with a certain immediacy, by putting some assets on the market that are part of the state’s patrimony,” he said.

Although Mr Berlusconi suggested that Enel as well as Poste Italiane could form part of a new privatisation drive, Domenico Siniscalco, finance minister, later told Italian radio that he knew of no plans to reduce the government’s 31.5 per cent stake in the utility group.

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UK Country offices could take council tax and reports for the police

Posted by | Feb 24, 2005 | |

Village post offices need to provide more services if the rural network is to survive, according to leading figures in the industry.

While this could include serving as the village shop and bank, it could also include police and council services for which the government should pay, they argue.

Rural post offices are threatened by the same long-term trends undermining other village businesses: migration to urban areas and a shift to supermarket shopping.

But the 8,100 remaining rural offices, most of which are privately-owned and operated, have also been hit by the introduction of direct payment of pensions and benefits into bank accounts. This business used to ensure a steady flow of customers to smaller post offices, to whom the postmasters or mistresses hoped to sell other goods and services. But Postcomm, the regulator, estimates only one in 10 rural post offices are now profitable.

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UK Postal Watchdog raps slow progress on post offices

Posted by | Feb 24, 2005 | |

A report due out today will criticise the government and Royal Mail for not doing more to secure the future of the loss-making post office network.

Smaller post offices, or sub-post offices, are privately owned but in rural areas are supported by a Pounds 150m annual subsidy – the social network payment – from the Department of Trade and Industry. This is designed to limit branch closures in rural areas but is due to end in 2008.

The number of urban sub-post offices will have fallen by up to 3,000 by the end of this year – the Post Office claims there was over-capacity – and the DTI is spending up to Pounds 210m on redundancy payments and the refurbishment of the remaining branches.

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Deutsche Post to unveil FY EBITA growth of at least 8 pct

Posted by | Feb 24, 2005 | |

Deutsche Post World Net AG is expected to unveil on Tuesday a full year 2004 EBITA growth of at least 8 pct, with fourth quarter operating profit improving by around 10 pct despite losses in North America, according to analysts polled by AFX News.

Sales are estimated at 42.86-44.62 bln eur from 40.017 bln and net profit at 1.33-1.4 bln eur from 1.31 bln.

Analysts are forecasting EBITA between 3.22 bln eur and 3.32 bln eur, or an improvement of nearly 12 pct at best from 2.975 bln the previous year.

Deutsche Post itself had given a guidance of 7.5-12.5 pct EBITA growth.

Analysts said the Express and Logistics divisions were the main drivers of growth while weakness in Germany’s economy had slowed down the increase in profits of the cash-rich mail segment.

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LDP refuses to accept government estimate on postal privatisation

Posted by | Feb 24, 2005 | |

Japan’s governing Liberal Democratic Party refused to accept a government estimate Thursday that postal privatisation will create an increase of up to 600 billion yen in pretax profits annually.

Rejecting the estimate as too idealistic, the party urged the government to present what it called a more realistic estimate next week on the profitability of Japan’s postal system after its privatisation begins in 2007, LDP House of Representatives member Yoichi Miyazawa told reporters.

During Thursday’s meeting, the government gave the party a projection that the four privatised entities spun off from the state-backed Japan Post will be able to chalk up large profits by launching new businesses such as financing and merchandising.

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