By Chris King • 14 April 2021 • 20:20
Correos Group Announces First Quarter Profits Of €4.7 Million.
Correos Group Announces First Quarter Profits Of €4.7 Million for 2021
THE Correos Group has released its quarterly accounts for 2021 today, Wednesday April 14, showing a profit of €4.7 million, which shows a positive return to business after the hard times endured during the earlier stages of the pandemic, with a stark drop in the use of the postal system, with people posting 560 million letters less than in 2019, which normally accounts for 65 per cent of Correos’ income.
The figures showed a growth in operating income of 12.5 per cent, in comparison to a growth of only 3.2 per cent in operating costs, which would appear to be a result of their recently implemented strategy of adjusting production costs and increasing revenues due to the new pricing policy.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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