Romanian Post: extensive investment plan

Romanian Post officials have reacted after the press published information about the state-owned company’s disastrous financial situation, stating that the net profit forecast included in its budget had in mind the implementation of an extensive investment plan.
“The Romanian Post National Company has included in its 2015 budget an estimated net profit of RON 1.6 M, in the context in which the Romanian Post seeks to implement an extensive plan of investments that are absolutely necessary for the company’s activity and for boosting its turnover. Thus, the Romanian Post has included in its budget investment expenditures in excess of RON 55 M (EUR 12.3 M). On the other hand, expenditures on personnel will rise by 4.2 per cent compared to 2014, against the backdrop of the salary hike implemented at the end of 2014,” a communiqué issued by the Romanian Post reads.
Company officials pointed out that the Romanian Post registered a net profit of RON 22.8 M (EUR 5 M) in 2014, after five years of losses. “Remaining on profit this year too, simultaneously with implementing the extensive investment plan, requires a considerable effort against the backdrop of an increasingly competitive market. In this context, to label as “disastrous” the situation of a state-owned company that forecasts profit is at the very least a hasty approach that could very easily be suspected of ill-will or lack of professionalism. An aggravated circumstance is also the absence of the company’s official position in the aforementioned article,” the officials of the state-owned company emphasize.
For this year, the Romanian Post forecasts revenue growth in most categories that form the company’s main activity, namely: commercial operations (+131.9 per cent year-on-year), express mail service (+14.6 per cent), package shipment service (+5.7 per cent), cash-on-delivery service (+2.3 per cent), special delivery service (+2 per cent) etc. Likewise, the company forecasts a 16.8 per cent revenue growth in financial services.

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