Hungarian Magyar Posta expects to end year with operating profits of HUF 7bn

State-owned Hungarian postal company Magyar Posta expects to end 2005 with operating profit of HUF 7bn on revenue of HUF 157bn, business daily Napi Gazdasag reported on Monday.

Deliveries of letters generated 60pc of revenue, and package delivery accounted for 5pc. The rest of revenue came from charges for financial services, newspaper deliveries and international transactions, Magyar Posta spokesman Tamas Tomecsko told Napi Gazdasag.

Magyar Posta deputy-managing director Laszlo Szivi added that Magyar Posta’s deliveries during the holiday season were expected to increase 10pc over the same period last year and account for 10-11pc of annual turnover.

Mr Szivi noted that Magyar Posta will be converted into a closed share company before the end of the year, confirming a report by business web site Figyelonet.

(HUF 100 = EUR 0.3911)

12/12/2005 11:49