RIGA - Latvijas Pasts plans to use its profit for 2020 worth EUR 2.398 million for development of postal infrastructure, according to the agenda of the Cabinet of Ministers meeting of April 26.
The government will decide on the part of the 2020 profit to be paid in dividends. The draft decision says that Latvijas Pasts does not pay dividends from its 2020 profit.
Funds worth EUR 2,397,870 will be used for development of the postal terminal network, optimization of routes, development of the Riga Sorting Center complex, improvement of IT solutions.
In 2020, Latvijas Pasts posted EUR 94.13 million in turnover and EUR 4.21 million in profit, according to Firmas.lv.
Latvijas Pasts is a state-owned company employing around 3,200 people.