Latvia, Post Office, Transport

International Internet Magazine. Baltic States news & analytics Sunday, 29.11.2020, 19:19

Latvijas Pasts turnover decreases 6.3% in Q1

BC, Riga, 06.07.2020.Print version
Postal service provider Latvijas Pasts turnover in the first quarter of 2020 amounted to EUR 23.254 million, 6.3% less than in the first quarter of 2019, while the company's profit rose twofold to EUR 2.885 million, the company announced on JUly 6th, cites LETA.

Photo: pasts.lv

Latvijas Pasts management report says that the demand for traditional postal services decreased, for instance, the number of domestic letters decreased 20% in the first quarter. In the meantime, revenue from parcel machines was 21.4% higher than anticipated.


The report says that restrictions on international passenger flights also had an impact on Latvijas Pasts operations in the first quarter. The Covid-19 crisis affected the company's long-term automation projects, which will be resumed as soon as the international epidemiological situation stabilizes.


In the first quarter of 2019, Latvijas Pasts' turnover amounted to EUR 24.811 million and profit to EUR 1.054 million.






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