Slovak Post Office sees net profit down to Sk96m in 2003

State-run Slovenska posta, the monopoly provider of postal services in Slovakia, netted Sk96m last year, compared with Sk169.75m in 2002, but its revenues grew by Sk734m to Sk6.76bn, according to results that the company released at today’s press conference.

A change in the accounting method in harmony with an amended law on accounting made revenues rise by Sk200.93m last year. The bottom line was not affected by this because costs were raised by the same amount.

In connection with the EU accession, Slovenska posta abolished six out of its ten outlets common with customs offices. Two thirds of foreign consignments come from other EU countries and thus are not subject to customs duties.

Slovenska posta is preparing for transformation into a joint- stock company and for the opening of the Slovak postal market. For distribution in German speaking countries, the company made a strategic partnership with Swiss Post International.