Seur Portugal Sees 14 Pct Y/Y Turnover Increase 2003

Seur Portugal, the local unit of Spanish express courier company Seur, expects to generate a turnover for 2003 up by 14 pct from 22.6 mln euro ($24.6 mln) for 2002, company’s general director Roberto Abarca said on March 13, 2003.

Seur Portugal’s target in terms of turnover confirms the accent on the Portuguese market and the expansion strategy of the Spanish company on the international market, Abarca said. In the Portuguese market, which currently accounts for nearly 5.0 pct of Seur’s annual turnover, Seur Portugal will invest 20.8 mln euro ($22.6 mln), of which 19.2 mln euro ($20.9 mln) in the development of its activities. The Portuguese company plans to open centres in Santarem, Coimbra and Vila Real by the end of the year and after that in Castelo Branco, Viseu, on the Madeira Island and the Azores Islands.

Seur’s global turnover increased by 6.19 pct year-on-year to 455.9 mln euro ($495.3 mln) above its initial expectations of 446 mln euro ($484.5 mln). More details on the development of new operations by Seur in Portugal will be available at the end of March 2003.

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Source: Diario Economico