Estonian Post report 2008 profits

According to preliminary accounts, Estonian Post ended the financial year of 2008 with a profit of approximately 400,000 kroons, writes the National Broadcasting/LETA.

According to preliminary accounts, Estonian Post ended the financial year of 2008 with a profit of approximately 400,000 kroons, writes the National Broadcasting/LETA.

The postal enterprise generated a turnover of 980 million kroons in 2008.
In 2006, Estonian Post earned a loss of 20 million kroons and in 2007 it amounted to 34 million kroons.
“This is a good result, taking into account the overall economic situation and the fact that for the past two years the economic indicators of Estonian Post have been negative,” commented chairman of the supervisory board of Estonian Post Meelis Atonen.

CEO of the postal enterprise Ahti Kallaste stated that the difficult and necessary decisions that were adopted eighteen months ago are starting to bear fruit. “In drafting the plans for the coming years, we have taken into account the current economic situation and have set ourselves the objective of remaining competitive on the postal market,” said Kallaste. He added that these plans are ambitious ones, requiring dedication from all employees and their readiness to execute changes.

The revenue of Estonian Post grew by 48.6m kroons in 2008 – by 5.3% in the year-on-year comparison. Revenue from handling letters grew by 25.6m kroons – by 7.1% in comparison to the year 2007. The revenue grew due to the higher prices of regular letters and registered letters while the volume of letter sent fell by nearly 10%. 1 USD = 12.2786 EEK

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