The French state-owned post office operator, La Poste, expects sales to rise 3 pct in 2005 on a like-for-like basis, according to the provisional budget approved by the board.
It foresees an operating profit margin of 3 pct in 2005, up from the 2 pct margin expected in 2004, and said it will earmark 982 mln eur for internal spending.
Read MoreDeutsche Post World Net AG is optimistic about the progress of its talks to acquire the logistics operations of troubled retail group KarstadtQuelle AG, said Deutsche Post management board member Peter Kruse.
‘We are looking at this with an optimistic stance,’ he said, while declining to comment on details of the ongoing talks.
Karstadt, which is undertaking a radical restructuring in an attempt to return to profitability, has said it expects to reap around 1 bln eur from the sale of subsidiaries. Between 200 and 400 mln eur of that is expected to come from the sale of its logistics operations.
Read MoreThe Royal Mail has been stripped of the contract for screening post on its way in to the Houses of Parliament and could lose its job delivering internal mail, it emerged today.
Commons Leader Peter Hain said the board of management awarded the contract to an American company because Royal Mail would not have provided the level of service detailed during the tender procedure.
The internal mail contract has been put out to tender because MPs could not justify spending taxpayers’ money on a price increase demanded by the Royal Mail, he said.
A Commons motion tabled by Labour MP Kate Hoey (Vauxhall) calling on the Serjeant at Arms to “reconsider immediately” has attracted the signatures of 41 MPs.
Read MoreThe American Council of Life Insurers (ACLI) announced today it has submitted to the government of Japan a ten-point review of issues it sees as critical to the privatization of Japan Post’s insurance business.
Under an initiative put forth by Prime Minister Koizumi, the Postal Privatisation Preparatory Office (PPPO) is currently drafting legislation for early 2005 Diet consideration to move Kampo, the world’s largest life insurer, into the private sector after decades of government ownership. Japan Post’s other major businesses — savings bank giant Yucho and the postal delivery business, would also be privatised. Meanwhile, a new corporation for the network of post offices would be established.
Read MorePos Malaysia & Services Holdings Bhd is setting up strategic alliances with private logistics and postal companies in East Asia to tap into the region’s courier market worth an estimated USD1.2 billion (RM4.56 billion) a year, says group managing director Datuk Ikmal Hijaz Hashim. He said the company had identified its potential partners and hoped to seal the alliances and begin transporting packages for them in the first half of 2005. “We are currently looking at Thailand, South Korea, China and Hong Kong,” he said after the company’s EGM in Kuala Lumpur on Dec 16.
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