Austrian post office in the black

Osterreichische Post, the Austrian post office, showed its first clear
profit last year. The company is likely to provide Sch400m (29.07m euros) in
profit for OIAG, the state enterprise holding, for the year 2000. According
to preliminary figures, turnover slipped from Sch25bn to Sch21.1bn, profit
on ordinary activity from Sch723m to Sch539m. Ebit amounted to just under
Sch227m. It must be taken into account that the postal bus service still
contributed Sch114m to 1999 figures. Disposable profit amounted to Sch466m.
The postal bus service, now a separate subsidiary of OIAG, saw its operating
result down from a profit of Sch90m to a loss of Sch90m, burdened higher
fuel costs and lower income from transport associations. Wilhelmine Goldmann
has been appointed to work alongside Werner Ott to increase the efficiency
of the bus service.
Abstracted from Der Standard in German FT McCarthy – Copyright 2001
Financial Times Information.
Source: World Reporter (Trade Mark).
DER STANDARD, 09th March 2001