Latvian State Postal Company plans Lvl 1 Mln revenue excess this year

Latvia’s state postal company Latvijas Pasts is planning revenues this year to exceed spending by just under 1 million lats (EUR 1.6 mln), reported the company’s marketing director.

Edmunds Bebriss stated that the postal company’s revenues this year are expected to continue growing, while revenue excess over spending this year will be down from the 1.73 million lats last year.

This year the company plans revenues from postal services of 22 million lats on spending of 21.92 million lats, with additional revenues coming from bank deposits, collected fines, securities and other sources.

Last year the company posted revenues of 21.99 million lats on spending of 20.26 million lats.

The company stated that most of its revenues come from postal services, delivering subscription press and home-delivery of pensions. Revenues from parcel delivery is also swiftly growing sector for the company.

Latvijas Pasts spending is continually growing, with an 7 percent rise expected this year for staff wages. The company has a staff of 7,500.

The company also plans infrastructure investments of 1.573 million lats this year.