LV: Latvian Post swings to net profit in 2011.

By bne IntelliNews August 2, 2012
Consolidated net profit of Latvijas Pasts (Latvian Post) in H1/12 amounted to LVL 1.14mn (EUR 1.6mn), chairman of BoD Maris Kleinbergs told Dienas Bizness daily. In 2011 company made LVL 0.7mn in profit vs. LVL 0.328mn loss in 2010 and LVL 0.232mn loss in 2009. Companys turnover in 2011 was LVL 36.7mn. LP is going through financial problems since 2006, when companys net loss amounted to LVL 4mn. Net loss of LP decreased y/y to LVL 3.5mn (EUR 4.98mn) in 2008 vs. net loss of LVL 14mn in 2007. Partly the losses decreased due to government compensating costs of deliveries to rural areas.

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