Poczta Polska reports excellent earnings for 2003
The financial results for the last year for Poczta Polska (PP), the state monopolist on the postal services market, were six times better than expected. Thanks to staff reductions, the company recorded a ZL92m profit compared to the planned ZL15m. “This was yet another year of gradual reduction of employment, a process which primarily involved people leaving their jobs due to retirement or disability pensions,” said Ryszard Pidek, deputy director for economic affairs at PP. In 2003, 900 employees left the company while postal revenues increased to ZL6.217bn. It was primarily due to an increase in sales of standard services including delivery of letters and parcels, and financial services. According to PP’s director general, Tadeusz Bartkowiak, the firm will face new challenges related to Poland’s accession to the EU as private firms will be allowed to provide services which, so far, have been exclusive to PP. Full liberalization of the postal market is scheduled for 2009.
