Tag: Road Transport

Business Post announces preliminary results for the year ended 31 March 2005

Posted by | May 17, 2005 | |

Business Post announces that, in the year ended 31 March 2005, it continued to enjoy considerable success. Financial highlights include turnover increased by 21% to GBP233.3m, representing like-for-like growth of 12%, operating profit increased by 9% to GBP20.8m, and pre-tax profit by 7% to GBP20.5m. Commercial highlights include express increased its turnover by 7%, representing an increased market share of around 8% and all of the other existing businesses – International, HomeServe, Courier and UK Pallets – increased turnover by at least 15%. UK Mail, which commenced trading on 10 May 2004, had an outstanding and profitable first year. The annualised year-end volume of approximately 250m items represented a market share of approaching 1%, ahead of expectations.

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Spend and deliver: UPS acquisition of Overnite

Posted by | May 17, 2005 | |

Even UPS has its gaps. The world’s largest package delivery company plugged an obvious one with yesterday’s acquisition of Overnite. The deal takes UPS into less-than-truckload freight services in the US for the first time, after several years watching the success of rival FedEx in that area. Overnite is no steal for UPS. The delivery group is paying a 46 per cent premium, while giving no guidance on the synergies available to justify such a chunky uplift. There should be some. UPS will be able to squeeze some benefits from having a ground freight network to link with the air freight operations of Menlo Forwarding. From the customer perspective, UPS will be able to offer a more complete set of products. Having filled an obvious gap in the US, UPS could turn its attention to faster growing international markets for its next move. Exel, the UK-based logistics group with a strong international presence, would, for example, be a bigger bite. Investors should not underestimate UPS’s appetite.

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UPS adds ground freight options by acquiring Overnite Corp.

Posted by | May 16, 2005 | |

UPS and Overnite Corporation today jointly announced a definitive agreement for UPS to acquire Overnite for USD43.25 per share, or approximately USD1.25 billion in cash. The transaction will allow UPS to expand its service portfolio by offering a variety of less-than-truckload (LTL) and truckload (TL) services to its North American customers. It also will immediately position UPS as a top US LTL carrier and comes just five months after the company expanded its air freight services by acquiring Menlo Worldwide Forwarding. The acquisition, expected to close during the third quarter of 2005, is an all-cash transaction that will require regulatory approvals and the approval of Overnite’s shareholders. The Overnite Board of Directors has unanimously approved the agreement and recommended approval by its shareholders.

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TPN close to share offer

Posted by | May 12, 2005 | |

The Pallet Network is set to open up its share holding to network member companies. Chairman Richard Eldred is canvassing views among 70-strong network membership and from firms that are considering joining.
The member-owned model is seen to have worked well at Palletline and at PalletForce. Indeed, PalletForce is setting the pace among the middle-ranking pallet networks. And some TPN members of the APC parcels firm.

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Courier grows with networks

Posted by | Apr 28, 2005 | |

Courier Logistics says offering a full complement of express services through the APC parcel and Pallet-Track networks has helped it increase its annual turnover by 43% from £2.8m to £4m. Managing Director Paul Johnson says: ‘We are finding it easier now we are selling the complete service, parcels and pallets, and that APC customers are now using the Pallet-Track service. We are now able to compete with the likes of TNT.’

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