Revenues for national postal operator Russian Post reached RUB76.2bn (US$1.2bn) in the first half of 2016 (H1), an 8.5% increase over the RUB70.3bn (US$1.1bn) recorded for the same period the previous year.
The post has largely attributed the rise in revenue to a surge in the number of international shipments being processed, with approximately 98.7 million parcels being sent or received. This figure is more than double the 48.1 million packages processed in H1 in 2015.
Overall the post experienced a net loss of RUB2.9bn (US$46m) for H1 2016 10% less than company estimates at the start of the year. The post blamed seasonal fluctuations in business activity and wage increases for post office workers on the net loss and expects to turn a profit in the second half of the year.
August 18, 2016
