Finland Post 2006 Net Profit Up to 67.7 Mln Euro

Finland Post Group said its net profit went up to 67.7 mln euro (USD88.9 mln) in 2006 from 64 mln euro (USD84 mln) in 2005, on the back of a 15 pct rise in net sales.

The board will propose a dividend payment of 0.675 euro (USD0.89) per share for 2006.

Finland Post acquired Norwegian logistics company Universal Spedisjon AS in the third quarter of 2006. The company was consolidated in the group’s accounts in September 2006.

In September 2006 Finland Post sold its 49 pct stake in the transport joint venture Kelpo Kuljetus Fi Oy to its partner DHL. Under the agreement, Finland Post bought Kelpo Kuljetus regional transport business from DHL.

In the autumn of 2006, the group also signed a lease agreement for a 20,000 sq m logistics centre in Moscow. Finland Post will start Russian operations in the spring of 2007.

Finland Post had 25,294 employees in 2006.