Baltic Logistic System Lativa boosts revenues by 87 pct in 2005

BNS – Baltic Logistic System-Latvija (BLS), an express delivery company selling services under Bizpak trademark, last year boosted its revenues by 87 percent to 1.43 million lats (EUR 2.03 mln), but ended the year in the red, the company said. BLS board chairperson Julija Moreva declined to reveal exact loss figure for 2005, but said that the loss was due to large investments in the company. Moreva said that the number of express deliveries reached 671,000 last year, which is 1.75 times more than in 2004. Moreva said that last year had been good for the company and the positive results were thanks to Latvia’s accession to the European Union (EU), change in people’s attitude to outsourcing services, growth of the market in general, good company team work and the services which met business demands. BLS expects to earn profit this year and increase the number of deliveries to 1.068 million, which would be a 59 percent increase from last year. The company might also open a new logistics center. BLS is mainly serving companies and the largest part of deliveries is computers, cosmetics, car parts and tools, as well as medical products. The largest part or 70 percent of the deliveries performed by BLS are domestic deliveries and 30 percent are international deliveries. In 2004 BLS was taken over by GeoPost, a subsidiary of France’s postal group La Poste Groupe. BLS was the market leader in express deliveries last year. BLS in 2005 had 36 percent of the domestic express delivery market, up from 21 percent in 2004, and 32 percent of the international express delivery market, up from 14 percent, according to the data by the Public Utilities Regulatory Commission. (EUR 1 = LVL 0.7028) Riga newsroom, +371 708 8606, [email protected]
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