Lithuanian Post delivers a profit for first quarter

08.05.2012, 13:16

Lithuanian Post reports that its has generated a profit of 405,000 litas in the first quarter of 2012 compared to a loss of 2.2m litas in 2011 for the same period.

CEO of Lithuanian Post Lina Minderien said in comment:: "We hope that financial results in the forthcoming quarters will be even better and the company will be able to free resources for investment needed to strengthen its position in the market.”

In the January-March period of 2012, Lithuania Post’s revenues from sales grew by 12.7% (in comparison with the same period in 2011) and accounted for more than LTL 46m.

During the first quarter of 2012 income from the universal service provision constituted the largest part of sales income making in total 50.7%. Income from courier mail services has increased by 5.2% compared with the first three months in 2011.

EBITDA for the first quarter of 2012 was positive – LTL 2 123 thousand, and negative for the same period in 2011 (LTL 419 thousand).

In 2011, the net profit of Lithuanian Post totalled LTL 736 thousand, while in 2010 the company’s losses made LTL 10.2m.