Ukraine Postal Service net profits up

In 2003, the net profits of Ukrposhta, Ukraine’s national postal service, were UAH 7.5 million, up 44% over the previous year, Vasyl Mukhin, the company director general, told journalists. Over the year, the company’s gross revenue rose by UAH 1.44 billion, a 7.8% increase over 2002 levels, Mukhin said. The proportion of postal services accounted for a little more than half of the total revenue, with the rest being derived from off-core postal operator services, the director general said. The profitability of the company, which has a monopoly on postal services, was 1.8%. According to the State Statistics Committee, postal operators’ gross revenues for postal services stood at UAH 733 million in 2003.