Ukraine's Nova Post increases consolidated revenue by 22.6% in H1 2024

MOSCOW. Aug 23 (Interfax) - Nova Post (Nova Poshta), Ukraine's express delivery market leader and part of Nova Group, increased its consolidated net revenue by 22.6% to UAH 24.45 billion in the first half of 2024 compared to the same period last year, while its consolidated net profit decreased by 36.9% to UAH 1.48 billion.

Nova Post's gross profit grew by 10.1% to UAH 6.05 billion in January-June 2024, Ukrainian media reported with reference to consolidated reporting data published in the disclosure system of the National Securities and Stock Market Commission (NSSMC).

Nova Post's operating profit in said period decreased by 9.2% to UAH 3.17 billion.

The company's investment expenses on non-current assets increased by 20% to UAH 3.54 billion, and it spent another UAH 70 million on purchasing a subsidiary. While the balance of funds decreased to UAH 5.39 billion from UAH 6.55 billion over the first half of the year, it was still higher than a year before, UAH 4.47 billion.

As reported, Nova Post increased its unconsolidated net revenue in the first half of 2024 by 20.1% to UAH 20.12 billion, while its net profit decreased by 38.1% to UAH 1.49 billion.

Nova Post is Ukraine's largest logistical operator. From the start of 2024 to the end of July, the company expanded its national network to 30,100 from 26,600 service points, including 12,100 offices and 18,000 parcel lockers.