Ukrposhta turnaround progresses: UAH 221 M profit reported in Q1 2019, as revenue climbs 22% YoY

Stock company “Ukrposhta” reported a first-quarter net profit of UAH 221.4 million, with its net revenue reaching almost UAH 1.9 billion, up 22.1% compared to the same period last year.

“More than UAH 221 million of net profit is one of Ukrposhta’s best quarterly results. We are growing both in volumes and in revenues in our key areas—domestic and international mail and financial services. This is a logical result of our process rebuilding, network performance adjustment, infrastructure upgrade and hard work on improving the quality of service. It is the collective success of our large team of several thousands of professionals. We can do even better, provided that we have clearly defined rules and costs of the provision of social services, in particular those related to pension payments delivery. Here we do rely on a productive dialogue with the government and the Parliament,” said Igor Smelyansky, Director General of Ukrposhta.

About Ukrposhta. Stock company “Ukrposhta” is the national postal operator of Ukraine and the leader in international mail delivery in the country. Ukrposhta’s 11 thousand post offices constitute the largest network in Ukraine, which is often the only opportunity to receive financial services for 16 million residents of Ukrainian small towns and villages. The company also delivers pension payments to more than 4.1 million pensioners.