Good for Business, Lithuania, Post Office, Transport

CEO of Lithuania Post Lina Minderienė said:

“The results of the 1^st quarter give grounds for optimistic expectations, especially considering the fact that the market was fully liberalized last year, and Lithuania Post faces more intense competition. The company’s performance results show that Lithuania Post is successfully adapting to changing market conditions as well as customer needs, and the services provided are competitive, quality, and meeting the expectations of customers.”

According to Ms Minderienė, during the first three months the company was making further investments into the quality of customer service, development of services, and means driving performance efficiency.

In the course of the first quarter, Lithuania Post has made investments of LTL 717 thousand; this makes two-thirds more than in Jan-Mar 2013.

There have been no considerable changes in comprehensive income. With transfer of courier service provision to the subsidiary company UAB Baltic Post at the beginning of the current year, Lithuania Post’s comprehensive income, if compared with the first three months of 2013, has decreased by 1.2%. Nevertheless, after exclusion of courier services transferred to the subsidiary company Baltic Post, there was a 1.9% increase in the company’s income.

Postal services have generated the substantial part of the company’ income. The comprehensive income from these services remained stable; however, income from registered and insured items has increased by 8.9%. Comparing with the same period of the last year, income from financial services has increased by 3.5% making 20.2% of total income. Income from other services, namely subscription to periodicals, unaddressed direct mail, retail trade, has made 21.7% of income received during the first quarter of 2014. This makes 3.5% more than in Jan-March 2013.