Tag: Worldwide

FedEx Corp. reports Third Quarter Earnings

Posted by | Mar 20, 2008 | |

FedEx Corp. today reported earnings of USD 1.26 per diluted share for the third quarter ended February 29, compared to USD 1.35 per diluted share a year ago. Last year’s third quarter included an USD 0.08 per diluted share benefit from a reduction in the company’s effective tax rate.

FedEx Corp. reported the following consolidated results for the third quarter:
Revenue of USD 9.44 billion, up 10% from USD 8.59 billion the previous year. Operating income of USD 641 million, unchanged from a year ago. Operating margin of 6.8%, down from 7.5% the previous year. Net income of USD 393 million, down 6% from last year’s USD 420 million. Total combined average daily package volume in the FedEx Express and FedEx Ground segments grew 5% year over year for the quarter, due primarily to growth at FedEx Ground, FedEx International Priority® (IP) and an increase in international domestic express shipments resulting primarily from recent international acquisitions.

Third quarter operating margins declined, as higher fuel prices and a weak U.S. economy limited demand for U.S. domestic express, less-than-truckload (LTL) and copy and print services. The costs of retail service enhancement initiatives, increased marketing and technology expenses and higher expenses at FedEx Ground more than offset the benefits from lower variable compensation and favorable exchange rates.

For the third quarter, the FedEx Express segment reported: Revenue of USD 6.13 billion, up 11% from last year’s USD 5.52 billion. Operating income of USD 425 million, up 8% from USD 395 million a year ago. Operating margin of 6.9%, down from 7.2% the previous year . IP package revenue grew 18% for the quarter, as IP revenue per package grew 10%, primarily due to higher fuel surcharges and favorable exchange rates. IP average daily package volume grew 6%, led by increases in volume originating in Latin America, the United States and Asia. U.S. domestic revenue per package increased 6% due to increased fuel surcharges and higher rate per pound, while package volume declined by 2%.

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Swiss Post International continues success in cross-border business

Posted by | Mar 19, 2008 | |

Swiss Post achieved excellent results again in 2007. With group profit of 909 million Swiss francs (EUR 551 million), it beat the previous year’s figure by 72 million (EUR 44 million). Operating income rose by over 800 million francs (EUR 485 million) to 8,712 million (EUR 5,280 million). The international division, Swiss Post International, increased its operating income by 6 per cent to 1,145 million francs (EUR 694 million) and contributed 34 million francs (EUR 20.6 million) to the overall group profit.

Operating exclusively in the mail, parcel and express business, Swiss Post International (SPI) increased its revenue again in 2007. Having exceeded the billion mark in revenue the previous year, it achieved a further rise of 6 per cent in the last year to 1,145 million francs (EUR 694 million).

In the last year, SPI has been driving forward the expansion of its international network, which included the opening of a sales agency in Denmark at the end of March 2007. In October 2007, SPI became privileged sales partner of the German Hermes Logistics Group (HLG) for international B2C traffic in the European markets. Previously, SPI sold 30 per cent of its shareholding in Italian parcel and logistics company, Swiss Post Porta a Porta, to HLG. At the beginning of 2008, SPI also acquired the Swedish letter processor, IMS Europe AB, strengthening its position as a provider in the Swedish postal market. To strengthen its customs expertise, SPI took over FM Verzollungs AG in Basel on 1.1 2007.

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Poste Italiane signs Technology Innovation Partnership with Egypt Post

Posted by | Mar 17, 2008 | |

Poste Italiane and Egypt Post have signed an agreement for the technological development and improvement of Egypt’s postal service. Poste Italiane has chosen Finmeccanica to be its partner in this initiative of international importance. Finmeccanica is a leading Italian group at a global level in the production of technological systems and platforms applied to a variety of production sectors.

The international agreement signed by Poste Italiane with Egypt’s postal service provider is aimed at promoting an overall improvement in the quality of mailing, and increasing the system’s innovation, including through the introduction of value added services.

The partnership between Poste Italiane and Egypt will take the form of regular bilateral consulting sessions and joint technical working groups which will allow for the sharing of technical information and the diffusion in Egypt of more advanced solutions which can be implemented within the postal sector.

Poste Italiane will make available its knowledge and experience with regard to updating and improving postal mechanisation systems. With the aim of introducing innovative technologies into Egypt and providing technical support for the optimisation of logistic processes.

The know how of Poste Italiane and Finmeccanica will make it possible to offer Egypt Post solutions to improve the organisation of its postal service, automation and distribution of correspondence and deliveries, security systems, hybrid mail, applications for the peripheral network of Egyptian post offices, innovation in the ICT sector and staff training.

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