Mar 30 2011
Neopost wants to locate in Asia-Pacific through acquisitions
Neopost intends to acquire distributors in Asia Pacific to obtain the direct presence which is lacking in this region with high growth potential, said Wednesday its chief executive Denis Thiery.
The manufacturer of franking machines for mail account also make acquisitions on the West Coast of North America and Europe to complement its network, "he told a news conference at its annual results.
Neopost published Tuesday in line with profit expectations for 2010 and forecast for 2011 said an operating margin of 25.5% to 26% against 25.7% in 2010, with growth of 2 to 4% of its sales business in exchange rates.
The action yields 0.80% at 63.35 euros to 12.00, in the absence of surprise results and prospects.
Neopost expects to acquire one or two major distributors of Neopost in Asia, where opportunities have been identified in Singapore, Malaysia and Australia, said Denis Thiery told Reuters after the news conference.
The group aims 40-50000000 euros in turnover in 12 to 18 months in the region promises a great potential in delivering mail and parcels, he added.
"Our ambition in the short term is to establish a direct presence in Asia perennial," said the boss of Neopost Reuters."Asia is followed from Paris, it's not very convenient (…) and it is not the right way to develop a region as promising as this one."
Neopost achieved in 2010 a turnover of EUR 965.6 million – against 5.4 billion (3.85 billion euros) for his main competitor, the U.S. Pitney Bowes.
The French group, which produces 41% of its sales in North America against 26% in France and the rest in Europe, has come on the market for small franking machines.
"The positive impact on economic performance is guaranteed in our opinion in time, without appearing in the very short term," says a note in CM-CIC, which maintains its recommendation to maintain a target price of 58.50 euros .
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