Tag: Netherlands

TNT trading statement

Posted by | Oct 16, 2008 | |

Trading conditions in TNT’s European Express business have significantly worsened in September and, based on the volume patterns in the first two weeks of October, TNT expects this pressure to continue in the fourth quarter.
Within a context of severe global volatility in financial markets, the recessionary trend in the economy in Europe has accelerated, causing the volumes in the premium International Express (air) product to decrease around 10pct. The Economy Express volumes (road) have continued to grow albeit well below levels of 2007.
In the Express Emerging platforms the growth and margins continued to develop in line with our outlook.
TNT’s Mail business is also developing according to the outlook, producing a robust operating income and cash flow for 2008.
TNT was able to refinance its capital requirements in August, ahead of the deepening of the financial crisis in September/October. Combined with the strong cash flow, this puts TNT on a solid financial footing going forward.
TNT will present an updated outlook for 2008 in its Q3 publication on October 27. The margins in the Express ‘’International & Domestic’’ line of business are currently expected to develop around a solid 9 pct for the full year, with somewhat lower revenue growth. No changes in other lines of the outlook are currently foreseen.

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FedEx Office cuts 650 workers

Posted by | Oct 1, 2008 | |

FedEx Office is cutting 650 jobs worldwide, as the company plans to shut FedEx Kinko’s stores in the USA, Australia, the Netherlands and Mexico. Australia has arguably been the hardest hit, with approximately 200 jobs set to go in the US, and 250 Australian jobs making up the 450 jobs likely to be cut outside the US. Likewise, 17 stores in total will be closed outside the US, 11 of these in Australia.

A formal date for these closures is yet to be set, though the company says it is aiming to have them all done by May 31st, the end of the US financial year.

The company rejected the notion that the decision was made in light of this week’s stock market plunge which has signaled a global economic downturn.

Robertson claims the company didn’t take the decision lightly, and canvassed a variety of options before settling on a pull-out.

With roughly 250 employees on its books in Australia, the company says it is hoping to find positions for some of them in other areas of the FedEx corporation.

It’s likely that most of the closures will be staggered over the coming months, as the company assesses the matter on a store-by-store basis.

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Deutsche Post VAT privileges cut

Posted by | Sep 24, 2008 | |

German Chancellor Angela Merkel’s Cabinet agreed to reduce a tax break granted to Deutsche Post AG while extending the benefit to the mail carriers’ competitors.

Cabinet members meeting in Berlin agreed that from 2010 Deutsche Post will lose an exemption from charging value-added tax on some services such as bulk business mail. At the same time, the tax privileges given to Deutsche Post will be extended to competitors that match the former monopoly in providing universal services.

The step reflects Germany’s aim to “stay abreast of liberalization in the postal market,” the government said in a statement, adding that the plan meets a European Union demand for changes in value-added tax exemptions.
The measures, if approved by parliament, will mean Deutsche Post facing competitors who enjoy VAT privileges at the same time as banks and mail-order companies eat into its core business activities. The Bonn-based company has long fought against an amendment of its tax privilege, citing the costs of fulfilling its charter to provide a universal post service to Europe’s most populous nation.

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TNT strengthens international express network

Posted by | Sep 24, 2008 | |

TNT announced that it will add eight new branches to its international express network in China by the end of the year. The expansion, which forms part of TNT’s investment in China to strengthen its international express network, will bring the total number of TNT International Express branches in China to 34. In addition to its extensive international express network, TNT, through its wholly-owned subsidiary Tiandi-Hoau, also operates China’s largest private domestic road network, which consists of 1,250 depots.
The TNT International Express branches at Dongguan and Zhongshan will begin their operations in the end of September 2008. This follows the opening of two earlier branches in Foshan, which opened on 1 August 2008 and in Shunde, which started operations on 1 September 2008. In addition, another four TNT International Express branches will be set up in Nanning, Wenzhou, Kunshan and Shanghai Pudong by the end of the year.

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