Tag: Mail Services

Greek Post Bank 2007 profit declines 68 pct

Posted by | Mar 31, 2008 | |

Greece’s Post Bank (TT) reported a 68 percent drop in 2007 profit as increased interest income was offset by a trading loss, the state-controlled lender said on Monday.

Net profit for the full year fell to 43.5 million euros (USD 68.56 million) versus 137.2 million euros a year earlier, while net interest income rose to 294.4 million euros from 253.6 million euros, according to a financial statement.

The lender also said it will propose a dividend of 0.25 euros a share on 2007 earnings, compared with 0.6 euros for 2006.

Greece in July sold a 20 percent stake, raising about half a billion euros and cutting its stake in the lender to 45 percent and has said it plans to sell a further stake this year.

On Friday, Greece’s second-largest lender EFG Eurobank said it raised its stake in TT to 5.7 percent as part of its investment plans, but did not say whether it planned to increase its stake.

Greek media have said in the past, without citing sources, that EFG was looking at holding a major stake in TT if the government sold part of its stake.

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Government review – Postwatch initial response (UK)

Posted by | Mar 31, 2008 | |

Postwatch has submitted its answers to the first 19 questions posed by the independent review panel appointed by the Government.

The review panel’s terms of reference are to:

• assess the impacts to date of liberalization of the UK postal services market, including on the Royal Mail, alternative carriers and consumers;

• explore trends in future market development and the likely impact of these on Royal Mail, alternative carriers and consumers; and

• consider how to maintain the universal service obligation in the light of trends and market developments identified.

In her covering letter Millie Banerjee CBE, Chair of Postwatch, made the following points:

• The review is timely and welcome.

• Royal Mail has a dominant influence on the future of the UK’s postal industry. Postwatch is encouraged that Royal Mail acknowledges the need both for a far greater customer focus and for a fundamental change in its internal culture. Postwatch believes these to be huge tasks that will require little less than a revolution in Royal Mail’s thinking and approach.

• The needs and interests of its customers must be factored in at every point of Royal Mail’s transformation plan.

• Declining mail volumes are a major challenge but must not be used an excuse for declining customer service and lack of investment. Instead Royal Mail should be reinvigorating the mail market to make it an attractive medium for advertising and fulfilment delivery.

• A financially healthy, customer focused, efficient Royal Mail is required if the UK’s postal industry is to thrive. Postcomm, as economic regulator, must ensure that its regime provides real incentives for this to happen.

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New deal for Scottish & Southern energy customers at the Post Office

Posted by | Mar 31, 2008 | |

• New paystation service offers all Scottish and Southern Energy customers easy access to key recharging
• Post Office ® paystation offers evening and weekend access for electricity key charging, gas card charging and mobile phone top ups
• Scottish & Southern Electric customers can continue to pay their bills at local Office® branches

Scottish and Southern Energy (SSE) has signed a new deal running to November 2011 which allow its customers, including Southern Electric customers, the convenience of paying their bills at their local Post Office branch.

The deal also means customers of Scottish Hydro, SWALEC and Southern Electric can now recharge smart keys, issued as replacements for electricity meter tokens, at around 7,500 Post Office® branches across the UK fitted with paystation terminals.

The Post Office®’s investment in the paystation network is providing utility companies with an easy and convenient payment solution for customers using smart key and smart card pre-payment methods.

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Taiwan Post may regain old name

Posted by | Mar 29, 2008 | |

Chinese Nationalist Party (KMT) president-elect Ma Ying-jeou assumes office in May, company sources said yesterday.

The KMT never agreed to the company’s name change, which it viewed as part of a campaign by the outgoing Democratic Progressive Party (DPP) administration.

Responding to a KMT legislator’s question at the Legislative Yuan yesterday, Premier Chang Chun-hsiung said the issue would be handled using the “legal procedures” by which the company’s name was changed.

On Feb. 12 last year, Chunghwa Post Co was formally renamed Taiwan Post, after the board of the company approved the move and the Executive Yuan exercised an administrative order to implement the change.

At that time, the DPP administration conducted a series of name changes to state-owned enterprises that carried the words “China” or “Chinese” in a bid to underscore that Taiwan’s distinct national identity was separate from China.

The name change was opposed by the company’s workers’ union, as well as pan-blue legislators who accused the Executive Yuan of infringing on legislative approval.

So far, the KMT-controlled Legislative Yuan has not passed the bill that would legalize the name change.

The Chunghwa Postal Workers’ Union is expected to put forward a proposal to revert to the firm’s previous name at a company board meeting that is scheduled for June.

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