Correos to invest EUR 275 million in 2008

Correos will invest EUR 275.5 million in 2008. This represents 11.2 pct more than 2007. This investment is part of the Investment Plan launched in 2005 (with a total amount of EUR 1,000 millions available). In 2006, this amount will be invested in:
– Infrastructure: EUR 151.4 million
– Automatisation: EUR 21.8 million
– Informatics technologies: EUR 65.1 million
– Other investment: EUR 37.2 million. This involves human resources activities like training sessions as well as security and office equipments.
José Damián Santiago, president of Correos, presented in the congress the investment plan and also the prediction of incomes, expenses and profits in 2008. Correos expect to raise in 5pct the incomes; this represents around EUR 2,245.3 million. The company also expects to have expenses for around EUR 2,188.1 million. This will conclude in profits for around EUR 117.8.
Correos‘s president also explained to the congress that the company will diversify its investment portfolio and launch new services and products for immigrants.
For the latter topic, the company announced it will participate in Integra, a specialized international fair for immigrant’s services, to be held in Madrid from 11th to 14th October.