Ukraine's Nova Post sees net profit tumble 38% in H1

MOSCOW. Aug 1 (Interfax) - Ukrainian express delivery company Nova Post increased net revenue by 20.1% year-on-year to UAH20.12 billion in the first half of 2024.

However, net profit fell 38.1% to UAH1.49 billion in the half, the company's unconsolidated financial statement showed. Gross profit rose 9.5% to UAH3.87 billion, while operating profit slumped 8.7% to UAH1.68 billion.

Nova Post's net profit surged 90% to UAH3.967 billion in 2023 on revenue up 54% to UAH36.47 billion.

Nova Post, founded in 2001, is part of Nova Group, which provides a full range of logistics, financial and information technology services in Ukraine and abroad. The group includes logistics companies Nova Post in Ukraine, Nova Post Europe and Nova Global, airline Supernova, financial services company NovaPay and IT company Nova Digital.

The official exchange rate was UAH41.03/$1 on July 31.