Tag: UK

TNT counts the cost of resolving tax problems

Posted by | Feb 28, 2006 | |

TNT yesterday admitted that resolving its tax issues could cost it as much as pounds 376.7 million. Following a long running investigation into the position of unnamed subsidiaries, TNT said its contingent tax liability was between pounds 102.7 million and pounds 376.7 million. Analysts’ estimates had ranged from pounds 273.9 million to pounds 547.9 million. But the firm whose said it had not received any claims from authorities and had not taken any charges against quarterly earnings. Chief executive Peter Bakker said the firm viewed the risk of a tax liability materialising below 50 per cent in each individual case, and so did not have to take a provision under new IFRS accounting rules.

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Cranleigh keeps track of home deliveries

Posted by | Feb 27, 2006 | |

UK transprot company Cranleigh Freight Seruves has introduced an operating system for the home delivery market. Captain (Cranleigh Freight Automated Product Tracking and Information Network)allows retailers and manufactureres to view the tatus and location of stock, orders and deliveries.

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EU says Britain clear to give post offices 150 million pounds a year

Posted by | Feb 24, 2006 | |

European Union regulators ruled Friday that Britain can pay the country’s post office 150 million pounds (EUR219 million; USD261.86 million) a year to keep rural branches open. The European Commission said it decided not to raise any objections to the government subsidy because the funding only covered the Post Office Ltd.’s duty to pay out social welfare and pensions throughout the country. EU state aid rules forbid governments granting firms aid which gives them an unfair competitive advantage over others. The Post Office, the largest European retail network by number of outlets, is an “arms’ length” retail subsidiary of the state-owned mail delivery firm Royal Mail Group PLC.

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Print management – Sector seeks diverse new roles to play

Posted by | Feb 23, 2006 | |

As print managers move into mail and logistics, Barney Cox asks what else we can expect.

Last week’s deal by Deutsche Post for a 51% stake in Williams Lea raised questions about how printers and print management firms fitted into a broader market serving bus-iness communications needs.

As soon as the deal was done, eyes turned to Communisis, the last of the “big three” print management market alongside Williams Lea and Astron not to have yet been snapped up. Its recent announcement that talks with a potential buyer had ceased has done little to halt speculation that it is the next acquisition target in this sector. And with the ongoing review of Adare’s business there is a real possibility that its print management businesses may be in the hands of a new owner before too long.

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Print Management: The next link in the food chain

Posted by | Feb 23, 2006 | |

DPWN’s GBP252m purchase of a controlling stake in Williams Lea is part of a trend in complementary acquisitions, says Tom Hawkins. Williams Lea, a major name in the British printing industry for 185 years, last week handed a controlling stake in the company to German postal operator Deutsche Post World Net. The GBP252m investment gives DPWN 51 per cent of Williams Lea, which is expected to expand over the next few years. The shareholding was made possible after investment capital firm 3i relinquished its 38 per cent stake for GBP110m with the remainder coming from the Williams Lea family’s 30 per cent ownership.
For Williams Lea the deal provides solid financial backing and access, via DPWN’s global customer base, to major document management contracts. For DPWN, the deal extends its ownership of printed documents from delivery back to the point of creation.

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