Spanish postal operator Correos has reported a fall in mail volume of 5.2% this year, mainly due to the economic crisis. It also reported a 28.4% drop in profits compared to 2008.

Expenses rose too, put down to an increase in the cost of personnel of 3.9%. The difference between income and expenses produced a result of operation of 81.3 million Euros.

Correos said the figures mirrored those of other European operators which are investing in new technology in a highly competitive market

The fall in mail volume was greatest in the latter part of 2008, reflecting a slowing down of economic activity in Spain and in the wider context of an international financial crisis.

On a high note, Correos said that it had improved and expanded its product line and customer demand continues to be concentrated on 'added value' products, the one area that offered the greatest scope for development.

Correos said it would intensify efforts to diversify and improve quality of service for national and international products and services as well as financial and online services.

© Hellmail.co.uk (21 June 2009)

This article can now be Stumbled, E-mailed to a friend or displayed in an easy-print format.

See Also >>

Hellmail content is covered by copyright and may not be reproduced without a return link to the article.