EMS Garantpost ups net profit 29% in 2002
Russian-French joint venture EMS Garantpost, a Russian express mail service, increased net profit 29% year-on-year in the 2002 financial year (from June 1 2002 to May 31 2003) to 71 million rubles.
EMS Garantpost turnover amounted to about $20 million, up 42%. The volume of received and transported freight increased 13.3%.
“This level of growth was due to increased demand for
express deliveries because of a rise in business activity in the country,”
Alexander Semyonov, the company’s general director, said.
EMS Garantpost was founded at the end of 1990 following a decision from the Universal Postal Union (UPU) on the establishment of a global Express Mail Service network, merging the national express mail services of UPU members.
EMS Garantpost was founded by Russian state company Mezhdunarodny Pochtamt (60%), Aeroflot, Orbit bank, the French holding company Sofipost, which is part of the national postal concern La Poste, and Air France.
