The following information was audited by PricewaterhouseCoopers.

In the United States, we serve domestic and international customers via our air and ground-based transport network. Domestic CEP products account for around 90% of the total market. Revenue from such products increased in the year under review, particularly in the Domestic Economy segment. This is an area in which we were able to outperform the market.

Competition in the export market intensified considerably due to improved services and aggressive pricing. The diagram below shows we were the fourth-largest provider in the US CEP market in 2004, while in terms of the international CEP market in the United States we were in joint second place with UPS.

US CEP market 2004 (pie chart)
US international CEP market 2004 (pie chart)

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