Spain Correos sees 2006 revenue at 1.971 Bln Euro

Spanish state-run postal services provider Sociedad Estatal Correos y Telegrafos S.A. (Correos) eyes a revenue of 1.971 bln euro ($2.36 bln) in 2006, a 3.1 pct year-on-year increase, the company’s chairman, Jose Damian Santiago, said on October 11, 2005.

Income from telegraph and fax services is expected to rise 3.8 pct, revenue from non-postal services is forecast to increase 8.0 pct, revenue from distributing communal services post is seen to rise 12 pct and postal services revenue is forecast to rise 2.9 pct.

Correos also forecasts operating costs of 1.812 bln euro ($2.17 bln). The figure includes the investments planned by the postal services provider, Santiago added. Correos has earmarked investments chiefly in the quality of the postal services provided.

Correos expects to close 2006 with a gross operating profit of 58.7 mln euro ($70.3 mln) and a pre-tax profit (which includes one-time gains and returns on investments) of 115.4 mln euro ($138.2 mln).

(Note: All figures/comparisons are for 2006/2005.)

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