Postal company interested in buying delivery company

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Compania Nationala Posta Romana (CNPR), the state-owned postal operator, could buy one of the first five players on the local express delivery market, according to the company’s restructuring plan, currently discussed by the government. CNPR follows the example of other companies, planning to secure higher market share by buying courier companies, daily Business Standard reads on April 29.
 
According to CNPR representatives, the postal company lost in market share on the express delivery segment, in the past three-four years, down to some 13 percent currently. The restructuring plan is pending a government decision, following its approval by the management.
 
CNPR posted total revenues of RON 1.074 billion (€321 million) in 2007, 25 percent higher year-on-year, but below expectations. "Revenues have been substantially affected by higher costs and lower fees for social rights distribution, from 1.3 percent to 0.7 percent in the last four months of 2007. Also, expenses totaled RON 1.036 bln (€310 mln)," company representatives said.
 
CNPR posted turnover worth RON 1.043 bln (€312.5 mln) and RON 37.4 mln (€11 mln) in gross profit. Company officials estimate turnover amount to some €400 mln for 2008.
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