Emirates Post net exceeds DH97m

Emirates Post has made a profit exceeding Dh97 million in 2001. This was revealed yesterday by Ahmed Humaid Al Tayer, UAE Minister for Communications and Chairman of Emirates Post.

Explaining that the figures testified to the success of the new policies of the corporation and the vision of the people behind it, Al Tayer said, “The net profit of Dh97 million achieved by the corporation at the end of 2001 represented a 10 per cent increase over 2000.

Emirates Post has earned a total revenue of Dh234.79 million which marks an increase of Dh17.77 million over the previous year, representing an increase of 8.2 per cent.

“The postal revenue was Dh209 million, an increase of nine per cent, while the non-postal revenue was Dh25.79 million. The total expenditure was Dh137.85 million an increase of seven per cent. Expenditure on total profit reached Dh 100 million”.

Referring to the funds allocated for expansion and new projects and the completion of the ongoing projects, Al Tayer announced that Dh57.32 million had been earmarked for those projects which will cover the whole of the UAE.

“In 2002, plans are in the offing to establish more than 20 post offices in various areas in the UAE. We also have plans to construct additional warehouses and establish the automation system.

“The postal sector is entering a new year in which there will be major changes in concept and standard of service in keeping with the rapid changes in the economy, customer requirement, competition and technological advances.

“Emirates Post has prepared a detailed plan to develop its operations and upgrade its services to ensure that it achieves better results during 2002 with projected revenue of more than Dh245 million, of which Dh222 million will come from operations.

“Emirates Post has managed within a record period to achieve new milestones in establishing high quality and the commercial importance of the postal sector, especially in the year of merging economies, rapid development in communication and rising demand for communication.”

Al Tayer said, last year, Emirates Post made many achievements such as developing existing services, introducing new services and signing agreements with similar corporations and postal authorities in other countries.

Emirates Post also signed agreements with international and local companies under which Emirates Post will be the main centre for distributing incoming mail to the Gulf and the whole of the Middle East.

“What is even more significant is that less than a year after acquiring a new identity and image the corporation has managed to change stereotype perception the general public had of postal services. Emirates Post today projects a bright image of an establishment that aims to be the best postal corporation in the whole world.

“This entails that in addition to conventional services, it is ready to provide facilities and practical solutions to its individual and corporate clients, driven by a mission to deliver quick and efficient service with the help of the latest technology.”

He pointed out that postal services in the UAE had entered a new and more promising year especially after Federal Law No. 8 created the Emirates Post Corporation (Emirates Post) which gave the corporation an independent status and a mandate to move with the times.

“A big chunk of the 2002 budget would go for development projects for the current year. A major part will go for building new post offices in Abu Dhabi, Al Ain, Dubai and Sharjah, upgrading and re-development of existing post offices as well as for building commercial buildings, which would be partly rented to outside parties to earn revenue for the corporation.”

As part of its efforts to widen its services and customer base, Emirates Post signed several bilateral agreements with other postal authorities, including one with postal corporations in the GCC concerning the reduction of charges for Mumtaz mail in order to retain the competitive edge.

“Emirates Post had also signed an agreement with Philippines Post to speed the dispatch of bank drafts between two countries and also increased the amount of money that could be sent. Emirates Post also signed an agreement with India Post to reduce the cost of express parcel services to India and speed up delivery.

“We are now focusing on efforts to introduce new and more advanced facilities such as private mail boxes to commercial buildings, electronic messaging for parcels received and accepting application forms for the UAE University.”

In addition, Emirates Post introduced methods to generate revenue such as a campaign for parcels across the world – a promotion offering 20 kg cargo for just Dh130 and the Win a Million Dirhams Post card promotion in which the total prize money was Dh1 million.

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