Eesti Post audited financial results for 2004

The profit of AS Eesti Post exceeded budgetary expectations by one-third. Owing a halt in the increase of costs and greater income from logistics services and universal postal services, the group’s profits grew by 23.1% to MEEK 29.3 compared to the year 2003. According to Jüri Ehasalu, Chairman of the Supervisory Board of AS Eesti Post, the company’s financial results for the previous year are the expected result of the changes made in the company’s management. “I am glad that progress was made both in terms of service
volumes and quality,” said Ehasalu. Peeter Raudsepp, Chairman of the Management Board of AS Eesti Post added that the company’s financial results were very good in a situation where the prices of fuel, electricity and other resources necessary for postal services have gone up substantially and the
company only expected a profit of MEEK 22. “A targeted reduction of management costs and continuing greater sales of express services also play important roles in generating a greater profit.”
P:LibraryPostalAnnual ReportsEesti Post 04.pdf