Tag: Mail Services

La Poste reports billion-euro net profit

Posted by | Mar 27, 2008 | |

The French state-run postal service, La Poste, reported on Thursday a net profit of nearly a billion euros (1.5 billion dollars) and said it would pay a profit-sharing bonus to its employees for the first time.

The company is also to pay EUR 141 million, about 15 percent of its net profit, as a dividend to the state.

Net profit totaled EUR 943 million, operating profit reached EUR 1.285 billion and sales were EUR 20.8 billion, the company said.

GeoPost, the express holding, increased revenues by 6.8 pct to EUR 3,171 million, thanks to an 11 pct rise in international business and good domestic growth in Central Europe, Eastern Europe and the UK. The separate French domestic parcels business ColiPoste increased revenues by 7.4 pct to EUR 1.33 billion, driven by e-commerce which now generates more than 10 pct of sales.

La Poste said it expected to grow in line with its targets. It expected to invest a similar sum to last year’s EUR 1.2 billion on “internal” measures such as post office modernisation but was also ready to “seize opportunities for acquisitions in each of its businesses”.

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CTT Correios de Portugal 2007 results

Posted by | Mar 27, 2008 | |

CTT Correios de Portugal announced it achieved in 2007 higher results than expected as it was able to exceed the goals established with the shareholder in the management agreement.

Annual consolidated operating revenue in 2007 rose by 5.2pct reaching 837.5 million euros, more 41.3 millions than in 2006.

Consolidated net revenue had a 8.7 pct improvement in 2006, with a growth of 5.8 million euros. This result will allow continuing the dividend distribution policy initiated last year the net value of the share being 4.16 euros.

Quality of service also exceeded the objectives set by the regulator and CTT pursued its professional training policy which grew by 42pct.

In terms of management, the highlights for the year were among others the creation of a new management model of the customer service including the counter, distribution and sales processes, the acquisition of the remaining capital of Campos Envelopagem, s.a. and its incorporation in Mailtec, pursuance of investment in state-of-art postal equipment and the launching of phone-ix, which has been getting a strong acceptance within the Portuguese mobile telecommunications market.

Also for the first time the board of directors of CTT decided to distribute 7million euros by the CTT workers.

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Pension changes to take effect after approval by Trustee

Posted by | Mar 27, 2008 | |

Royal Mail today confirmed that changes to its Pension Plan would take effect on April 1 following approval to amend the Plan from the Trustee. Earlier today, Royal Mail and the Trustee signed a deed of amendment which gives effect to the changes to the Plan.

The changes, which follow extensive talks with unions and employee representatives since last April, had also been agreed last year by both the CWU and Unite as part of wider agreements with each union on pay, modernisation and pension reform. A formal consultation period with all affected members closed on 16 January this year.

The key pension changes now agreed are:
• The Plan will close to new members from 31 March 2008.
• All pensions and benefits earned before 1 April 2008 will still be linked to final salary at the time of retirement.
• From 1 April 2008, benefits building up for employee members of the Plan will be earned on a Career Salary basis.
• New recruits joining the company after 31 March 2008 will be able to begin paying contributions to the new plan after they have worked for the company for a year.
• A new defined contribution plan will be launched in April 2009.
• Employees can continue to take their pension on reaching 60 but the normal retirement age will increase to 65 for benefits earned from 1 April 2010.
• From 1 April 2010 it will be possible to draw pension earned before the change to normal retirement age at 60, and continue working while still contributing into the Pension Plan until the maximum level of benefits has been reached.

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Hampshire And The Isle Of Wight Post Office®Branch Decision – Decision announced on Whitsbury Post Office following additional consultation

Posted by | Mar 27, 2008 | |

Post Office Ltd today announced a decision on the future of the final Post Office® branch proposed for closure in the Hampshire and the Isle of Wight plan following a six week public consultation which ended 3 March. Post Office® services across the area will be provided through a network of 300 branches, which supports the national accessibility criteria introduced by the Government and ensures that over 99% of the Hampshire and Isle of Wight’s population will either see no change to their existing branch or will remain within one mile (by road distance) of an alternative branch.

In a decision announcement made by Post Office Ltd on 9 January it was confirmed that Goodworth Clatford Post Office branch, originally proposed for closure would remain open. In the same announcement Post Office Ltd confirmed consultation on a new proposal that instead of replacing Whitsbury Post Office branch with an outreach service, the branch should close without a replacement outreach being established. The branch has very few customers making it very difficult for an outreach service to be viable for a core Sub postmaster. With no other retail outlets in the community, residents already leave the area for their wider shopping needs.

After reviewing the feedback received during consultation on this new proposal Post Office Ltd has decided to proceed with the closure of Whitsbury Post Office Branch.

The decision has been reached after public consultation and Postwatch, the consumer body representing Post Office® customers, has verified the correct consultation procedures were followed.

Full details of all the decisions made in relation to the Hampshire and Isle of Wight area plan and the issues raised during local public consultation are available by visiting www.postoffice.co.uk/networkchange.

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