Ceska Posta raises profit to Czk 1 billion

Ceska posta, the Czech Post Office, raised gross profit by 4 percent year-on-year to CZK 1 billion in the first nine months of the year.

Sales from postal operations added almost 2 percent to CZK 7 billion, while sales from agency services to clients rose by 5 percent to CZK 1.5 billion.

Ceska posta also expects a 4 percent rise in profits for the full year. In 2005, it made net profits worth CZK 667 million, a year-on-year increase by half. Gross profits reached CZK 920 million.

Ceska posta, owned by the state, has 37,500 employees in 3,400 branches. The company will be transformed into a joint-stock company in the next few years before it can be privatised.