Emirates Post Holding Group’s 2008 net profit crosses AED 247 million
Group President Abdulla Al Daboos says 30% increase in profits driven by ongoing strategic restructuring
Mr. Abdullah Al Daboos, President of Emirates Post Holding Group, today announced that the group’s net profit in 2008 soared to AED 247 million, an increase of 30 per cent over 2007, according to preliminary financial reports.
Mr. Al Daboos said that the increase in profits was the result of dynamic measures adopted by the group toward restructuring, as part of a strategy designed to keep pace with modern business trends and innovation, by leveraging diversification measures.
“Emirates Post Holding Group has emerged as a model Federal institution pursuing global best practices in progressive business management, while providing high-value services, achieving profitability without compromising on quality and focusing efforts on the development of the federal government sector and upgrading its services,” said Mr. Al Daboos.
“The increased revenues achieved this year and in recent years are indications that the postal business is buoyant, as witnessed in the rising volumes of postal items. This gives us confidence that the coming years will see us achieving all the goals we have set,” added Mr. Al Daboos.
Mr. Al Daboos said that during 2008 the group will focus on conceptualizing and developing strategies that will serve as a springboard for next phase of transformation.
“Our focus areas are the development of human resources and staff loyalty, greater automation, diversification of services, value addition to our customers and further diversification of domestic and foreign investment and rationalization of operating expenses.
"All our projects and initiatives are supported by detailed operational plans with specific responsibilities and roles. We have allocated budgets for each project, along with a time-bound implementation plan, with a follow-up system directed by the Strategic Planning Team of the Group."
As a result of the plan to expand the postal network launched in 2007, the number of post offices will increase to 113 by the end of 2009, supported by a budget of over AED 100 million for construction projects, which include new post offices and renovation of existing ones. One of the major projects now nearing completion is the Postal Exchange Center at Ramoul, which will be the first integrated exchange center in the Middle East, designed on international standards.
Emirates Post
Emirates Post, one of the key subsidiaries of Emirates Post Group, succeeded in strengthening its market position and expanding its client base, in spite of strong competition from private operators, with the volumes of postal items, such as letters and parcels, increasing by over 17 per cent, to over 305 million items.
The year 2008 saw several major developments such as signing of agreements with many local and foreign parties to boost diversification of services and quality upgrade.
Empost
Emirates Commercial Postal Services (Empost), the national courier company, expanded its business in 2008 by entering into agreements with many public and private companies in the fields of courier, freight, including the delivery of mail from the mailbox to the house or office, receipt of visas and passports, in addition to shipping services and logistics services. Also, Empost activated its electronic services which enable the customers to choose the appropriate service and get the price and follow-up of its own postal items online.
Over the past ten years, Empost has built a strong reputation in the UAE, with distinctive services customers from government and private sectors.
Empost now provides shipping, distribution, road and air transport services, in addition to many other advanced services. Through operations in Asia, Africa and Europe and now in the Americas, Empost has enhanced its position as an institution specialized in providing comprehensive and integrated logistics solutions around the world.
Electronic Document Center (EDC)
The Electronic Document Center (EDC), another subsidiary of the Group, is the first of its kind in the region to offer integrated services related to outsourcing of data printing jobs, such as invoices and account statements, packaging and distribution of this data; printing and identification of smart cards, and delivery to the customers.
In 2008, EDC’s key achievements included signing a contract with the Roads and Transport Authority (RTA) for implementation of the RTA card of the standard services and obtaining reliability certificates from Visa and MasterCard -- EuroPay MasterCard & Visa (EMV).
EDC successfully implemented the electronic personnel management system "HRMS" and began the application of the "Oracle Financial System" which contributed to an 18 per cent increase in operating revenues, while net profits rose by 26%. For 2009, EDC has targeted a growth of 22 per cent in revenues.
Emirates Marketing and Promotion (EMP)
Emirates Marketing and Promotion (EMP), the first Federal government company specializing in integrated marketing and promotional solutions in the fields of direct marketing, customer service and call centers, was successful in implementing its Strategic Plan for 2008 as set by the board of Directors. It achieved a net profit of AE 10 million, while reducing costs by 10 percent.
EMP provided integrated solutions through the call center services for Emirates Post, Empost and several large private and government corporations. As well, EMP was able to provide marketing and promotional solutions to many large companies, and managed to activate the national identity project in collaboration with the Emirates Identity Authority (EIDA).
Wall Street Exchange
Wall Street Exchange Center saw further expansion in geographical spread, by opening 10 new branches, and establishing presence in the key places like shopping centers and the Global Village, as well as launching the first 24/7 exchange center outside the airport in Al Baraha, Dubai.
Wall Street Exchange opened the doors for dealing with leading financial institutions in many Arab states in 2008. It also increased the number of Instant Cash service agents. Wall Street Exchange received a certificate of quality from Deutsche Bank as the best center of the commercial remittances of U.S. Dollars. It also boosted Emiratisation, with the number of Emiratis reaching 26, compared to14 in 2007.
