Russian Post has increased its sales revenues by 9% for the first half of 2012, with strong mailand parcel volumes.
During the first six months of this year, Russian Post revenues increased to RUB 32 billion(€806.5 million), up from RUB 2.7 billion (€67.3 million) during the same period last year. Thecompany’s net profit amounted to RUB 1.46 billion (€36.8 million) which represents an 8% increasecompared to the first quarter of the current year.
Russian Post claimed that profits could have been higher if it had received subsidies for thelosses incurred from providing universal postal services and areas of public access to theinternet, as was stated in the budget of the Russian Federation.
The postal operator continues to grow its mail volumes, with an increase of 10% to 400 millionletters compared to the second quarter of 2011. Revenues from letter mail also grew by 16% duringthat period. First class mail shipments showed a 35% increase on the previous year to 10.4 millionitems, with corresponding revenues rising 70%. Parcel volumes for the second quarter of the currentyear also increased by 9%.
Russian Post highlighted the increase in productivity of 13% as one of the most importantindicators of its performance.
“Overall, the indicators of Russian Post’s profitability reflect the work particularities of afederal postal operator carrying a significant social burden and combining a social mission with alarge-scale modernisation, financed through its own resources,” the company said.
Looking ahead, Russian Post expects its net profit in 2012 to reach 2011 levels.
