Postal Service Continues Bounce Back with 75m Br Profits

March 12 , 2022


The Ethiopian Postal Services Enterprise has announced profits of 74.8 million Br over the first half of the financial year. The figure is 20 million Br higher than what its executives had targeted. Revenues over the reporting period registered at 351 million Br, 10pc higher than the forecast. The state-owned enterprise introduced staggering price hikes late last year, increasing annual box rental fees by as much as 600pc. The adjustment was the first in 11 years. The 128-year old state-run postal service provider offers 124,000 boxes at its offices. It has recorded decent performances over the past year-and-a-half, bouncing back from a 34.4 million loss in 2019/20. It employs 2,400 people.


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