Tag: Worldwide

FedEx delivers strong results on solid growth

Posted by | Jun 22, 2006 | |

FedEx said it remained optimistic about the economic outlook after solid growth in US and international markets helped the express delivery group lift fourth- quarter net profits by a better-than-expected 27 per cent. Fred Smith, chairman and chief executive, said he saw no sign of weakening in the economy, brushing off concern that rising interest rates and high energy prices could stifle growth.

Mr Smith’s upbeat comments followed similar remarks last week by US rail industry executives, suggesting that the transportation sector, an important bellwether of economic growth, remained in a bullish mood.

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FedEx Corp. net income increases 27% in fourth quarter; operating margin continues to rise

Posted by | Jun 21, 2006 | |

FedEx Corp. reported the following consolidated results for the fourth quarter:
revenue of USD 8.49 billion, up 10% from USD 7.72 billion the previous year, operating income of USD 927 million, up 25% from USD 740 million a year ago, operating margin of 10.9%, up from 9.6% the previous year and net income of USD 568 million, up 27% from last year’s USD 448 million. “FedEx posted record financial results in the fourth quarter and full year, as we ended our fiscal 2006 in an environment of solid economic growth in the US and in international markets,” said Frederick W. Smith, chairman, president and chief executive officer. “We remain optimistic about the global economic environment for fiscal 2007 and our ability to effectively manage our business. We will remain firmly focused on making every customer experience outstanding, profitably growing our business and seeking new opportunities to serve our customers.”

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Malaysia's Transmile says unaware Pos Malaysia selling 17.3 pct stake to DHL

Posted by | Jun 20, 2006 | |

Transmile Group Bhd said it has no knowledge of any plan by major shareholder Pos Malaysia & Services Holdings Bhd to sell its 17.3 pct stake in Transmile to DHL as reported recently in local newspapers. ‘The Board of Directors of Transmile Group Bhd wishes to clarify that TGB is not aware of Pos Malaysia’s intention to dispose of its 17.3 pct stake in TGB to DHL,’ it said in a statement.

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Banco Postal to reach 5 million checking accounts by end-month

Posted by | Jun 19, 2006 | |

Brazilian financial services provider Banco Postal will be managing 5 million checking accounts by the end of this month, local financial daily Gazeta Mercantil reported.

Banco Postal is a joint venture between Brazil’s largest private bank Banco Bradesco (NYSE: BBD) and the Correios national post office. The bank offers loans and checking and savings accounts to low-income customers with monthly salaries around 500 reais (US$224), among other services.

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A survey of logistics: Chain reactions

Posted by | Jun 17, 2006 | |

Delivery companies are consolidating

“WE ARE competing with giants,” says Fadi Ghandour. The Jordanian businessman has first-hand experience of consolidation in the logistics business. He is chief executive of ARAMEX International, which began life as the Middle East partner of a number of American delivery companies. Partnerships and alliances allow operators to link with others to provide services in places where they have no operations of their own. All went well until 2003, when DHL bought Airborne Express, ARAMEX’s chief partner in America. The deal gave DHL a way to compete in the backyard of UPS and FedEx. But for ARAMEX it meant its link to the crucial American market was cut.

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