Norway Post has reported a preliminary operating profit before non-recurring items and write-downs in 2011 of NOK 1,051 million. This is the best operating profit in five years.
The Group’s revenues increased by 2.4 per cent last year and new acquisitions in the logistics segment will contribute to further growth.
The Group made a profit before non-recurring items and write-downs of NOK 1,051 million in 2011, an increase of NOK 99 million, or 10.4 per cent, compared to 2010. This is mainly due to cost cuts.
“We’ve succeeded in implementing major reorganisations and considerably improving the efficiency of our mail operations. In the logistics segment, profitability programmes have been implemented, including the coordination of parcels and goods production,” says Dag Mejdell, the CEO of Norway Post.
The Group’s operating revenues came to NOK 22,984 million in 2011, an increase of 2.4 per cent compared to 2010. The logistics segment experienced strongest growth in the parcels area, while its Nordic position was strengthened through the acquisition of five logistics companies last year.
The volumes of physical letters are continuing to decline as a result of the transition to electronic alternatives. The A-mail and B-mail volumes fell by 6 per cent last year. In order to deal with these developments and strengthen the mail area in future, Norway Post has launched a digital mailbox, Digipost. Norway Post has also asked the Ministry of Transport and Communications to consider making changes to its framework conditions in the White Paper on Norway Post which is expected to be presented in the spring session of parliament.