Latvia, Post Office, Transport

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 07:57

Latvijas Pasts losses at LVL 600,000 in 2010

Alla Petrova, BC, Riga, 10.03.2011.Print version
The state-owned postal company Latvijas Pasts concluded 2010 with LVL 600,000 in losses, which is four times as much as in 2009 when the company's losses totaled LVL 159,282, as Latvijas Pasts board chairman Aigars Vitols says in an interview with the Nozare.lv business portal.

Vitols notes though that losses in this amount were planned in the company's budget for 2010.

 

Latvijas Pasts turnover decreased 4.95% last year to LVL 42 million, says Vitols, adding that these are provisional data that may change slightly after an audit is carried out, informs LETA.

 

The reduction in turnover last year was in line with global trends, because the number of letters and parcels that are included in the universal postal service continues to decrease everywhere in the world, and Latvia is no exception, explains Vitols.

 

This year, Latvijas Pasts could post a profit of LVL 1.5 million, and the company's turnover could increase to LVL 44 million. The company plans to achieve this by attracting more corporate clients, reducing costs and improving efficiency of operations.

 

As reported, Vitols was appointed chairman of Latvijas Pasts board in December 2010 after Transport Minister Uldis Augulis (Union of Greens and Farmers) unexpectedly sacked the company's previous board over sub-par performance.





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