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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 08:48

Turnover of Latvijas Pasts postal company up 13.4% in 9 months

BC, Riga, 22.11.2019.Print version
Latvijas Pasts postal company in the first nine months of this year turned over EUR 69.682 million, up 13.4 percent from the respective period last year, while the company's profit declined twice to EUR 264,282, according to the company's financial statements, reported LETA.

In the first nine months of this year, Latvijas Pasts operational profit was by EUR 810,000 higher than the target.


The report says that there was a rise in shipments and services in the most popular business segment, for example, in transit and express mail. The traditional postal services have reduced, such as letter correspondence, affected by modern-society habits and digitalization.


Revenue from transit services in the first nine months increased by EUR 6.4 mln, revenue from international business cooperation shipments increased by EUR 0.7 mln, from express mail - by EUR 0.3 mln, and revenue from payment and retail services - by EUR 0.1 mln.


Latvijas Pasts this year worked to improve convenience and avaialability of services. Latvijas Pasts from Baltcap purchased a network of 61 parcel machines, thus, becoming the largest postal services company in the Baltic states.


As reported, Lavijas Pasts posted EUR 89.11 mln in turnover last year, which is 17.9% more than in 2018, while the company's profit rose 18.7% to EUR 2.011 mln,.


Latvijas Pasts is fully owned by the Latvian state and its basic function is providing the universal postal service. The company is also involved in providing philately, transportation, express mail, financial, press and IT services, as well as retail trade.






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