Correos y Telegrafos flying high
The Spanish mail service provider Correos y Telegrafos almost doubled its profit in the past financial year. Earnings before tax rose form EUR 82.7 million in financial year 2002 to EUR 186 million and turnover jumped by 5.4% to EUR 1.75 billion last year. The state-owned mail service provider also recorded an 11% increase in expenditure to EUR 256 million, of which EUR 120 million was spent on infrastructure.



