Finland Post reports 65% drop in profit
The Finnish postal services company Finland Post Corporation reported a net turnover of EUR1,046m in 2001, a decline of 2% from the previous year’s turnover.
The year was the company’s first without banking services.
The operating profit dropped by 65% and amounted to EUR32m. The result was affected by costs relating to the restructuring of the post office network, a significant increase in depreciation, a decrease in pension fund investment returns and an increase in pension contributions.
The company’s growth business areas, Electronic Messaging Services and Logistics Services, performed well and increased their turnover by 29% and 21% respectively.
