Ukrposhta increases revenue by 22% year-on-year to US$73m

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Ukrainian postal operator Ukrposhta has reported a first-quarter net profit of €7.5m (US$8.4m), with its net revenue reaching almost €65m (US$72.8m), up 22.1% compared to the same period last year.

“More than €7.5m [US$8.4m] of net profit is one of Ukrposhta’s best quarterly results,” said Igor Smelyansky, director general of Ukrposhta. “We are growing both in volumes and in revenues in our key areas – domestic and international mail and financial services.

“This is a logical result of our process rebuilding, network performance adjustment, infrastructure upgrade and hard work on improving the quality of service. It is the collective success of our large team of several thousands of professionals.

“We can do even better, provided that we have clearly defined rules and costs of the provision of social services, in particular those related to pension payments delivery. Here we do rely on a productive dialog with the government and the parliament.”

Ukrposhta is the national postal operator of Ukraine and the leader in international mail delivery in the country. Ukrposhta’s 11,000 post offices constitute the largest network in Ukraine, which is often the only opportunity to receive financial services for 16 million residents of Ukrainian small towns and villages. The company also delivers pension payments to more than 4.1 million pensioners.

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With over a decade of experience as a business and technology journalist working in B2B publishing, Hazel first joined UKi in 2011. After taking 18 months off to bring up her daughter and try her hand at marketing copywriting, she returned in January 2018 to do what she loves best – magazine editing! She is now the editor of UKi's Passenger Terminal World and Parcel and Postal Technology International magazines.

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