Emirates Post declares record net profit of Dhs. 161 million for 2006
Announcing the financial results, H.E. Sultan Saeed Al Mansouri, Minister for Public Sector Development and Chairman of Emirates Post, said the net profit of Dhs. 161,346,897 reflected Emirates Post’s continuing pursuit of business diversification and excellence in delivery of services.
Mr. Al Daboos revealed that the postal network expanded by 4 per cent to 83 branches. Overall mail rose by 16 per cent, and the parcel segment increased by 15 per cent. The number of total services went up to 52, an increase of 18 per cent. There was a huge increase in the number of Government services provided at post offices. For example, the Ministry of Labour transactions rose by 108 per cent. Remittances rose by 95 per cent.
Commenting on expansion plans, Mr. Al Daboos said over Dhs. 270 million was allocated for new projects in 2007. The projects already nearing completion are a new purpose-built postal operations hub at Ramoul, a new post office building at Naif Road and the Al Mussafa Post Office in Abu Dhabi.
The projects being executed during 2007 include Al Satwa Post Office Building, Jebel Ali Post Office and a commercial building housing the Ajman Central Post Office.
Mr. Al Daboos also revealed that the plan for establishing the Emirates Post holding company was at an advanced stage.
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