Post Office makes 35m-euro profit in H1

The Romanian National Post Office Company (CNPR) witnessed a gross profit worth 35.6 million euros in the first six months of 2006, a five-fold increase against the 6.4 million-euro profit made in the same period of last year. At the same time, total revenues increased by 11%, reaching 426 million euros in the first six months of 2006, from 383 million euros in the same period of last year. Expenditures grew by a mere 3% in the first six months, from 376.5 million euros in the first half of the year in 2005, to 390.5 million euros in the first six months of this year. This calculation was based on last year’s prices, brought up to date. “In the first six months, we exceeded the approved spending and revenue budget by 20%, given that, when establishing the approved budget, the upward trend of the Romanian Post Office was taken into account,” stated Dan Mihai Toader, CEO of CNPR. The approved spending and revenue budget for 2006 provides for revenues of 800 million euros and a gross profit of 14 million euros.