Correos de Chile back on its feet
Between 1998 and 2003, the situation of the state postal group Correos de Chile was a precarious one as private postal services started up and robbed it of market share. However, Correos de Chile appears to have turned the corner: according to general director Jose Luis Mardones, last year the group managed to stabilise business and then push on to a 10% rise in sales (30% in its packages segment) aided by the national economic climate. In 2005, Correos Chile’s turnover should be around US$115mil. The packages segment was worth 7% of business a few years ago but has now doubled; the firm expects it to do just that all over again by 2009 to reach 30%.
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