Parcelforce wins ex-FedEx work
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• Parcelforce picked up £2m of business from ex-Federal Express customers after the US carrier's decision to leave the UK. And it claims more deals will be clinched despite FedEx's endorsement of Securicor.
"Some Federal Express customers are slightly resentful at being pushed toward Securicor," says Parcelforce managing director Peter Howarth, adding that he has been "very bullish" in going after FedEx business.
Parcelforce's accounts are published separately from the Post Office's for the first time in July. These will reveal losses, although less than last year when a shortfall of £75m was blamed on allocating £60m of losses to Parcelforce rather than to Royal Mail. "We aim to break even next year and show a small profit the year after that," says Howarth.
Next week Parcelforce meets the Department of Trade and Industry to press its case for releasing £250m of Post Office money for a five-year investment plan.