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Monday, February 25, 2013

PostNL Q4 profit beats forecast, increases cost savings, (NYSE: UPS)

Dutch postal group PostNL on Monday said it will continue to reduce its headcount as it cuts an additional 70 million euros ($92 million) in costs by 2017 to counter declining mail volumes.PostNL said between 2,700 and 3,500 jobs will be cut at its head office and other departments - of which between 450 and 650 would be forced redundancies.PostNL reported a net profit of 155 million euros in the fourth quarter, beating analysts' forecasts of 82.4 million euros in a Reuters poll. Revenue for the period rose 2.6 percent to 1.2 billion euros, also ahead of expectations.The company was forced to delay its reorganisation last year and also suffered a setback when express delivery group United Parcel Service dropped its planned takeover of TNT Express, in which PostNL is the largest shareholder.

United Parcel Service, Inc. (UPS) is a package delivery company that operates in the United States less-than-truckload industry, and the provider of global supply chain management solutions. Shares of UPS traded higher by 0.4% or $0.33/share to $82.94. In the past year, the shares have traded as low as $69.56 and as high as $84.87. On average, 3838820 shares of UPS exchange hands on a given day and today's volume is recorded at 2394488.