Posten Norge profits up by 12%

Scandinavian postal operator Posten Norge has reported that profits in both the mail and logistics segments in the first half (H1) were up.

Despite falling mail volumes, adjusted profit (EBITE) was up 12% at NOK247m. Revenue was down slightly at NOK12,153m.

In a statement, Tone Wille, CEO of Posten Norge, said: “The Group is committed to increasing profitability, through operational measures and organisational adjustments. This spring we have made several critical decisions and established a new service organisation that will ensure a clear customer focus. In addition, we are reducing costs in operations and administrative functions. We see that the measures we are implementing are already producing results.”

Posten Norge said that new logistics centres will be completed in Trondheim and Oslo this fall.

“In the future our new logistics network will consist of 18 joint terminals for parcels and freight in Norway. This means cutting in half the number of terminals we previously had and paves the way for significantly improving efficiency in the logistics operation. These investments will help strengthen Posten Norge and Bring’s competitiveness and provide customers with an even better service offering,” said Wille.

Posten Norge added that logistics operations in Sweden and Denmark showed markedly improved profitability due to strong growth in consumer e-commerce and increased home delivery, as well as the phasing out of unprofitable activities in Sweden.
 
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