Tag: Worldwide

Postal-reform legislation hailed as a much-needed repair to the ailing USPS

Posted by | Jul 29, 2005 | |

The postal-reform legislation that passed overwhelmingly in the House on Tuesday has been hailed as a much-needed repair to the ailing United States Postal Service. Unfortunately it doesn’t fix the postal service’s biggest problem. In the face of falling mail volumes and massive liabilities, the USPS has claimed for years that greater pricing flexibility would solve its financial woes. Free of existing regulation, its managers argued, the USPS could respond quickly to market opportunities and thereby increase earnings. It looks like the USPS is finally getting what it wanted: At the core of the new bill are measures that free up the pricing system. To really mend itself, however, the postal service needs not so much flexibility on pricing as the flexibility to cut its massive labor costs. And the new legislation doesn’t give it that.

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Nepalese Government to monitor private postal and courier service providers

Posted by | Jul 29, 2005 | |

The Nepalese Government is all set to introduce Private Sector Postal Service Operating Regulation 2005 to monitor all private postal and courier service providers in the country. The regulation is being enforced as per the policy of Department of Postal Services (DPS) that envisages to monitoring and enhancing the services of the private operators. Private postal and courier service providers currently operate with licenses issued by Company Registrar under Ministry of Industry, Commerce and Supplies (MoICS). Although the certificate gives legality to the business, it fails to spell the terms and conditions for their operations.

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Italian Post Office unveils 3-year targets

Posted by | Jul 28, 2005 | |

The board of directors of the Italian post office, Poste Italiane, has been presented with the organization’s development plan for 2006-2008. Its targets include a 3.5 per cent rise in consolidated turnover, to 10.38bn, 10 per cent growth in Ebit, to 1.2bn euros, and an Ebitda up 5 per cent, at 2.2bn euros, over the three-year period. More generally, Poste Italiane is aiming to develop its financial services to the point where its BancoPosta subsidiary becomes Italy’s biggest ‘bank’ by customer numbers and to increase its share of Italy’s express parcel service market. While unveiling the three-year plan yesterday, Poste Italiane’s managing director, Massimo Sarmi, said that the Bank of Italy has ordered his organization to keep separate accounts for its BancoPosta business, on the one hand, and its postal services, on the other. He also pointed out that Poste Italiane has only a 1.4 per cent share of Italy’s 30.2bn-euro market for parcel services, compared with 18.2 per cent for Deutsche Post World Net and 12.2 per cent for TNT.

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Deutsche Post World Net EBIT increase by more than 10 percent

Posted by | Jul 28, 2005 | |

In the first six months of 2005, Deutsche Post World Net increased its profit from operating activities (EBIT) by 10.6 percent to about 1.7 billion euros. At 21.5 billion euros, revenue rose slightly compared with the first six months of 2004. First-half net income amounted to 939 million euros compared with 721 million euros in the same period a year earlier. Earnings per share increased from 65 euro cents to 84 euro cents. In the second quarter, net income grew by 76 percent from 275 million euros in the year-earlier quarter to 484 million euros, or 43 euro cents per share.

“Our development in the first six months shows that we are on the right track,” said Chairman and Chief Executive Officer Klaus Zumwinkel. “I can confirm once again that we will reach our earnings target of 3.6 billion euros for this year.”

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Deutsche Post outlook boosted by DHL

Posted by | Jul 28, 2005 | |

German mail and logistics company Deutsche Post said on Thursday second-quarter operating profit rose 21 percent, boosted by its DHL express and logistics units, and reiterated its annual goals. Earnings before interest and tax (EBIT) rose to 781 million euros (USD942 million) in the second quarter from 647 million euros a year earlier. Net profit rose 76 percent to 484 million euros. Deutsche Post reiterated that it expects 2005 operating profit of at least 3.6 billion euros as it benefits from continuing growth in world trade. That compares with full-year EBIT of 3.35 billion euros in 2004. Earnings this year benefit from the end of amortization under international accounting rules and a lower tax rate. Quarterly sales increased 4.4 percent to 10.96 billion euros from 10.5 billion in the second quarter of 2004. The company is investing USD1.2 billion in DHL in the United States, where it is vying for a larger share of the domestic market with FedEx Corp. and UPS.

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