15 May 2014 16:41

Russian Post revenue rises 2%, net loss widens 140%

MOSCOW. May 15 (Interfax) - Russian Post saw net losses widen 140% to 3.46 billion rubles in the first quarter of 2014 under Russian accounting standards, despite a 2% increase in revenue to 31.9 billion rubles, the federal state unitary enterprise reported.

Mail operations accounted for 77.3% of the revenue (24.7 billion rubles), commercial operations - about 11% (3.5 billion rubles), money transfers - 7.2% (2.3 billion rubles) and other operations - 4.4% (1.4 billion rubles).

Russian Post had payables totaling 22.9 billion rubles at the end of the first quarter, 2% more than a year earlier.