Profitable Post of Serbia
On today’s session, the Supervisory Board of the Post of Serbia approved the information on business results of our public enterprise during the first nine months of 2017, as well as the Report on the Rate of Implementation of the Business Programme.
The total income from January to February was RSD 18.7 billion and the total costs and expenses amounted to RSD 16.5 billion, with the Post of Serbia gaining net income of RSD 1.7 billion.
The Company profits for the first nine months were scheduled to be RSD 308 million, but the actual amount reached RSD 2.2 billion.
The operating income was higher than scheduled, amounting to RSD 18.1 billion at the end of the Quarter 2. The commercial services earned somewhat more than a half of this amount, with the pronounced trend of income growth in the field of parcel, express and logistic services, being more than 12 percent in 2017. With our Post Express courier service, we have been the leader at the market with the harshest possible competition for 15 years in a row, as more than 50 registered courier services are in the business.
By sound cost management and rationalisation at all the levels, the operating expense was reduced to the minimum possible, being lower than the scheduled by 10.3 percent.
In the reporting period, the Post allocated RSD 845.9 million for investments, some 12 percent more than in 2016, whereas most of the funds were used for purchasing new technological transportation assets which are requisite for the postal business.