EUR 3.5m net profit for Romanian Post in H1

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The Romanian Post National Company recorded in the first six months of 2016 a net profit of RON 15.8 million (EUR 3.5 million), up by 2.5% against the first six months of 2015, the company informed on Wednesday.

The gross profit amounted to RON 19.6 million (EUR 4.4 million), up by 5% against the same period last year.

“Given the conditions of limited financial resources and increasing competition, the Romanian Post has managed to achieve revenues by main categories of services. We can’t allow all profits to go towards paying old debts. Any financial availability of the company should be channelled towards well-grounded investments, to ensure a safe and consistent profit for the national operator of postal services,” said Alexandru Petrescu, Director General of the Romanian Post.

Romanian Post expenditures decreased in the first six months of the year to RON 543 million against RON 546 million in the same period last year.

The Romanian Post registered in 2015 an operating profit of RON 6.8 million. The end result was negatively affected by the Competition Council’s fine (RON 33 million) for deeds allegedly committed during 2011-2012, a fine the Romanian Post has challenged in court. In the Revenue and Expenditure budget for 2016 the company provided a positive gross result of RON 4 million.

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