Nova Post increases investments in development in Ukraine by 40% in Jan-Sept

MOSCOW. Nov 8 (Interfax) - The Nova Post (Nova Poshta) company, Ukraine's leader in express delivery, has increased investments in its development in Ukraine by 40% to 4.9 billion hryvni in January-September 2024, Ukrainian media outlets said, citing the company's press service on Friday.

Nova Post opened 940 new offices and installed 4,578 new automated parcel lockers, 5,518 new service locations in total, in the nine months.

"As of October 1, the Nova Post network has 12,400 offices and 20,170 automated parcel lockers," the company's press service said.

The number of parcels and cargoes delivered by Nova Post grew by 17%, reaching 336 million parcels. The company delivered 11 million international parcels.

It was reported earlier that Nova Post reduced its net profit 1.9 times to 1.65 billion hryvni in January-September 2024 year-on-year and increased its net income by 16.4% to 30.81 billion hryvni. The company explained the decrease in profits by the growth of charity expenses and an increase in depreciation expenses due to a significant increase in the investment program. Inflation and a general rise in prices also had an impact.

The amount of taxes paid by Nova Post in Ukraine grew by 10% to 8.6 billion hryvni.