Emirates Post recorded 100 million Emirati dirhams ($27.2 million) in profits for the year 2002, an increase of 11 percent over the previous year, on revenues of Dh 243.7 million. The corporation has projected a profit of Dh 110 million for the year 2003 and allocated Dh 78.4 million for developmental and expansion projects across the United Arab Emirates.
According to Undersecretary of the Ministry of Communications, Abdulla Ahmed Lootah, Emirates Post spent more than Dh 57 million in opening new facilities and redeveloping existing post offices across the country during 2002.
Total revenues for the year stood at Dh 243.7 million, an increase of Dh 13.7 million over 2001, signifying a six percent rise. Of this, postal income comprised Dh 211 million, a five percent increase. Non-postal revenue stood at 32.39 million.
Among the highlights of the year were strategic partnerships with International Express, which allows customers to send express documents and parcels from the UAE to any part of the globe through the DHL network. Emirates Post also tied up with Western Union to offer a money transfer option to and from any part of the world within minutes.
Emirates Post also signed agreements with major global postal corporations such as British Royal Mail, Deutsche Post and GATTS (Swiss Post) to distribute their mail to over 20 destinations in the Middle East and the Indian Subcontinent. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
