Bulgarian postal operator Tip Top Courier sees 2007 turnover up 85%

Bulgarian postal operator Tip Top Courier expects its turnover to grow by 85% next year to 12 million levs (USD7.9 million/6.1 million euro), due to expansion of its network and rise in postal advertisements, a senior company official said on Tuesday.

Tip Top Courier expects to have some 10 million levs in turnover from courier services in 2007, up 54% from this year’s projection, and some two million levs from universal postal services operations, which it will launch in January, board chairman Lachezar Kaparashev said in a statement sent to SeeNews.

Tip Top Courier was licensed on Monday as the first privately held provider of universal postal services in Bulgaria under the trademark T-Post. The company will invest some seven million levs in expanding its network by January 2009.
“Of course, there is also a more optimistic forecast. Our company is taking part in tenders for delivery of billing invoices to the subscribers of BTC and Toplofikatsia Plovdiv, but the results have not been announced yet,” Kaparashev said.

BTC is the dominant fixed-line telecoms company in Bulgaria and Toplofikatsia Plovdiv is the steam-heating utility of Bulgaria’s second-largest city.

Tip Top Courier targets control of 22% to 23% of the market of universal postal services in Bulgaria in 2009. Bulgaria’s postal services market is expected to grow by some 24% this year from 125 million levs in 2005.

An increasing number of companies, from Internet services providers and lending institutions to household appliances and furniture retailers target Bulgarian customers with advertisement leaflets dropped in their mail boxes.

(1 euro = 1.95583 Bulgarian levs)

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Source: SeeNews