Revenue from universal postal services by Latvijas Pasts up 8% in 2018

RIGA – Revenue from universal postal services by Latvijas Pasts last year rose by 8 percent, the company’s board member Kristaps Krumins told LETA.

He said that the past ten years had been full of challenges for postal services providers, the amount of letters has declined, at the same time, e-commerce services are rising, which means upgrade of technologies and data exchange on a larger scale in everyday processes.

Revenue from universal postal services have increased by 8 percent, mostly on the account of e-commerce and Latvian residents shopping in foreign internet stores. Universal postal services ensure more than 40 percent of revenue to Latvijas Pasts.

Latvijas Pasts is fully owned by the Latvian state and its basic function is providing the universal postal service. The company is also involved in providing philately, transportation, express mail, financial, press and IT services, as well as retail trade. Latvijas Pasts employs more than 4,000 people.