– Net sales increased one percent to SEK 18,215m (17,954)
– Mail and parcel volumes grew; financial service transactions fell
– Operating earnings were SEK 681m (-417). Earnings for the period include provisions totaling SEK -135m (-419) and capital gains of SEK 206 (-1)
– After-tax earnings improved to SEK 789m (-401)
– Cash flows before financing activities were SEK 289m (-868)
The Swedish national union of postal workers has reportedly threatened to go on strike over pay and conditions at the end of October. If the union’s demands are not met, 2,000 postal workers would reportedly walk out of their posts on 25 October 2004. According to the online news service of Radio Sweden, the negotiations were currently stalled.
Read MoreNet sales grew three percent to SEK 12,516m (12,127).
Parcel volume increased eight percent, other mail classes rose by three percent. Financial-service transactions decreased by 17 percent.
Operating earnings improved to SEK 279m (-513). Earnings include provisions of SEK -136m (-383) and capital gains of SEK 47m (-1).
Measures for which provisions have been made will lead to annual savings of SEK 150m.
After-tax earnings improved to SEK 405m (-483).
Cash flows before financing activities totaled SEK 317m (-389).
The Norwegian postal service Posten is reportedly suspected of using illegal methods to stop competitors, and the company is now said to be facing major fines. The EFTA Surveillance Authority has reportedly spent the last five days collecting potential evidence at Posten’s main office in Oslo. The investigators have particularly been looking for information regarding an alleged agreement between Posten and the grocery chains regarding the right to offer postal services in the stores, according to the Norwegian daily Aftenposten.
Read MorePosten’s Nordic parcel delivery operations is reporting tremendous growth. Posten has wholly and part-owned subsidiaries in Denmark, Finland and Norway and soaring growth in the Danish delivery market has necessitated new investment. Posten has earmarked 100 million Swedish kronor for operations in the Danish cities of Aalborg, Aarhus, Kolding and Herning to achieve the requisite capacity and delivery performance as well as to create a satisfactory work environment for the entire Danish DPD network. The effort aims to defend and expand Posten’s market position in the Nordic countries.
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