Tag: Mail Services

On course toward a historic merger

Posted by | Apr 29, 2008 | |

Posten’s sales in the first quarter advanced slightly as a result of acquisitions completed mainly in the logistics business. Sales as well as profits were negatively affected by the shorter first quarter, with two fewer work days than in the first quarter the preceding year. Yet consolidated operating earnings of SEK 694m reflected one of the strongest quarters ever.

With sales of SEK 4.3 billion, the messaging business is essential for Posten. Posten Messaging’s sales declined as a result of fewer work days in the quarter. At the same time, operations are encountering challenges in the form of intensifying competition, more substitution, and a higher general level of costs, and operating earnings declined. Thanks to focused efforts to continually streamline operations, the business reported an operating margin close to 11 pct.

Posten Logistics continues to grow profitably. Acquisitions completed in Norway and Finland accounted for about half of the sales growth. The operations are focused on creating a Nordic structure for heightened customer benefits, increased efficiency, and specialization on the Nordic market with the goal of bolstering Posten Logistics’ position and future competitive strength.

Of the core businesses, Stralfors delivered the strongest relative improvement in earnings. Stralfors continues to grow briskly in information logistics. Several key orders were secured from major corporations with a broad customer base in the Nordic countries. Keeping focused on productivity improvements and streamlining operations will further boost profitability in the business. Stralfors’ European platform will give rise to new, interesting business opportunities in the group formed by the merger with Post Danmark
as the European postal market is deregulated.

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SingPost collaborates with ABN AMRO to distribute consumer banking

Posted by | Apr 29, 2008 | |

Singapore Post Limited (“SingPost”) and ABN AMRO announced today a collaboration to distribute PostLine, a new personal line of credit. This is a first of its kind alliance between SingPost and a bank to distribute a personal line of credit. Under this collaboration, SingPost will distribute ABN AMRO’s new personal line of credit, PostLine, at post offices where customers will be able to receive professional financial advice.

The collaboration is part of SingPost’s strategy to leverage its wide retail network to offer high value products and financial services to its customers. The newly launched PostLine will provide another option for SingPost’s customers, expanding the suite of financial services and investment products offered at its post offices.

For ABN AMRO, the collaboration will enable the bank to immediately expand its sales and distribution channel in a cost-efficient manner. SingPost owns one of the largest retail distribution networks in Singapore through its tri-channel platform of 62 post offices, over 250 Self-service

Automated Machines (SAM) and vPost, an internet portal facilitating bill payments and offering online shopping and shipping services.

PostLine is designed with a wide array of benefits, aimed at helping clients save costs and giving them more flexibility in their liquidity and cashflow management. This includes an attractive interest rate of 1.44 pct per month, one of the lowest in the market, and flexibility to use the line of credit to transfer their balances. The unique two-in-one concept of PostLine allows customers to enjoy the lower financing cost with the flexibility of an overdraft. PostLine customers will be able to access
their credit via a cheque book and an ATM card.

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An Post reports 7 pct rise in revenues

Posted by | Apr 29, 2008 | |

An Post has today reported a 7 per cent or EUR 57.2 million rise in revenues to EUR 876 million last year, helped by an increase in mail during the general election.

The postal service’s operating profit before exceptional items increased to EUR 29.1 million compared with EUR 14.7 million during the pervious year.

The company said delivery of items purchased online, and exceptional volumes generated during the election contributed to a growth in the volume of mail delivered.

Increases in the cost of postage introduced in March 2007 had contributed to an growth in revenue from mail delivery.

The company said wages and other staff costs increased EUR 32 million to EUR 600.9 million, with labour costs for its 9,905 staff rising as a result of the implementation of national wage agreements.

To meet the cost of the additional production hours associated with the general election the company incurred once off costs of EUR 10.7 million. This total included an agreement reached with postmasters this year.

Over the year the average number of staff employed declined by about 90.

Other operating costs rose by 6.3 per cent to EUR 245.9 million reflecting an increased marketing spend and upgrading of the An Post fleet.

The accounting deficit in An Post’s pension scheme showed a deficit of EUR 114 million last year, down from EUR 193 million the previous year.

Last year also marked the start of the 50-50 Postbank joint venture with Fortis which will is offering banking services out of more than 250 post offices.

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A profit of DKK 371 million in the first quarter for Post Danmark

Posted by | Apr 29, 2008 | |

In the first quarter of 2008, Post Danmark achieved a profit after tax of DKK 371 million as a result of growing revenue and decreasing expenses. This is an improvement of DKK 86 million compared with the DKK 285 million profit after tax achieved in the same period last year.
Profit before tax was DKK 462 million compared with DKK 368 million in the same quarter the year before.
Despite declining letters volume, revenue rose for letters, the main reason being customers’ slower than expected change to using the new low-priced C letter product. Revenue fell for daily newspapers, magazine mail and local weeklies compared with the same period last year, while revenue and volume rose for unaddressed mail and parcels.
A positive trend was also seen in income from associates and joint ventures with a profit of DKK 106 million compared with DKK 76 million in the same quarter the year before. The increase was driven mainly by growth in revenue and a fall in expenses for the Belgian De Post – La Poste.
Post Danmark’s total income amounted to DKK 3,165 million in the first quarter, up DKK 41 million on the same period in 2007 where total income amounted to DKK 3,124 million.
The expectations for 2008 are maintained. In practice, this means total income on a par with 2007, an improved operating profit because of decreasing expenses and a somewhat higher profit before tax.

1 DKK = 0.207611 USD

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HayPost introduces insurance services Partnership to be signed with INGO Armenia

Posted by | Apr 29, 2008 | |

April 23, 2008. HayPost and INGO Armenia have signed an agreement today that will intend for HayPost to provide insurance products to all customers in Armenia.

As of June 1st, HayPost offices will extensively begin selling insurance packages to everyone, ensuring a high accessibility of insurance to all customers, regardless of their location and socio-economic status. HayPost staff is being trained and will obtain the utmost professional qualifications to address and grant INGO Insurance products.

“This is a highly important partnership for HayPost,” states Hans Boon, Director General of HayPost. “As part of our expansion plans in the postal and financial services, and in combination with the Postbank, HayPost will increasingly establish itself as a ‘one-stop’ service center to make accessible all services to even the most disadvantaged customer.”

“All the required documentation is being sent to the Central Bank of Armenia to provide HayPost with the insurance license,” states Levon Altunyan, Executive Director of INGO Armenia. “Our partnership with HayPost is highly relevant for us and will be the basis of a sustainable and increasingly substantial strategic collaboration.”

The key result of this partnership will be that all underserved customers – far and wide – will have direct and easy access to HayPost and its postal, financial and now insurance services.

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