LT: Lithuanian Post net loss down by 28% y/y in H1.

By bne IntelliNews August 16, 2012
Lithuanian national post company Lietuvos Pastas recorded net loss of LTL 2.7mn (EUR 0.8mn), down by 28% y/y in H1. The company indicates that the net loss in H1 is fourfold lower than expected. Revenues of the company increased by 4.8% y/y in H1, up to LTL 92.4mn. Mail segment grew by 9.5% y/y in H1, while courier segment increased by 8.7% y/y. Aurelija Jonusaite, spokesperson of Lietuvos Pastas, indicated that results improved both due to growth in revenues and reduction in costs. In 2011 the company recorded net profit of LTL 0.7mn, while in 2010 net loss amounted to LTL 10.2mn.
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