Correos with higher profits in 2007
The Spanish post operator Correos increased profits last year by 5.2 pct and is extending its portfolio with an upgraded parcel service. Correos closed 2007 with a pre-tax profit of EUR 149.6 million, a rise of 5.2 pct on the previous year. Revenues were up by 4.4 pct to EUR 2.1 billion.
Mail volumes rose by 2.2 pct, including election-related post, based on more added-value mail products. The Spanish postal operator said the profit figure confirmed its positive development over the last three years and its solid financial position in an increasingly competitive market.
Correos concluded a four-year programme of EUR 1 billion investment in technology, infrastructure and operations last year. In 2007, it invested EUR 233 million in areas such as infrastructure modernisation and new technology for mail operations.
Correos said it will shortly launch an upgraded domestic express parcel service under the name Postal Exprés Nacional. This service is designed for urgent parcel deliveries, signed for by addressees, with a delivery time of no more than 24 hours for most destinations. Although primarily for business customers, it will also be available to consumers. The Spanish post operator Correos increased profits last year by 5.2 pct and is extending its portfolio with an upgraded parcel service. Correos closed 2007 with a pre-tax profit of EUR 149.6 million, a rise of 5.2 pct on the previous year. Revenues were up by 4.4 pct to EUR 2.1 billion.
Mail volumes rose by 2.2 pct, including election-related post, based on more added-value mail products. The Spanish postal operator said the profit figure confirmed its positive development over the last three years and its solid financial position in an increasingly competitive market.
Correos concluded a four-year programme of EUR 1 billion investment in technology, infrastructure and operations last year. In 2007, it invested EUR 233 million in areas such as infrastructure modernisation and new technology for mail operations.
Correos said it will shortly launch an upgraded domestic express parcel service under the name Postal Exprés Nacional. This service is designed for urgent parcel deliveries, signed for by addressees, with a delivery time of no more than 24 hours for most destinations. Although primarily for business customers, it will also be available to consumers.
The new product offers three types of delivery option: standard home delivery, return to sender for failed delivery attempts, or a new option of pick-up from a post office of the customer’s choice. Customers can also receive parcel status information by SMS. In contrast, Chronoexprés, the postal operator’s express subsidiary, offers time-definite next-day deliveries within Spain and international express services.
Separately, Correos has signed a postal network access agreement with MRW, which is thus the first of the leading Spanish express parcel firms to show clear interest in the mail market. The latest agreement was signed with MRW Postal. MRW’s postal service is targeted at bulk mail shipments such as brochures and magazines.
Five Spanish companies have now signed downstream access agreements, Correos said. The others are Cartes Lleida, Norcorreo, Mailhouse and Zaybe. Negotiations are taking place with other postal operators, it added.
