Post Denmark to be converted into a public limited company

The Danish Parliament has today passed the act that converts Post Denmark into a state-owned public limited company. The conversion becomes effective on January 1, 2002. The most recent accounts from Post Denmark for 2001 show a stagnant turnover of approx. DKK 11 billion (EUR 1,456.8 million). A small decline in the number of letters is the main reason why the turnover is not developing positively. Despite this development, Post Denmark has succeeded in maintaining a profit on ordinary activities of just under half a billion Danish kroner in the past three years. In 2001, the profit on ordinary activities was DKK 472 million (EUR 63.5 million) against DKK 489 million (EUR 65.8 million) in 2000 and DKK 469 million (EUR 63.1 million) in 1999.