Poczta Polska 2014 net profit up by 76% y/y

State-owned postal operator Poczta Polska announced its 2014 financial report on Monday. Net profits of PLN 77.4 million exceeds the 2013 figure by 76 percent. Profit on pre-tax level amounts to PLN 142 million, up by 51.8 percent, on a yearly basis. Poczta Polska's revenue has fallen from PLN 6.42 million in 2013 to PLN 6.3 million in 2014. Company's CEO, Jerzy Jóźkowiak, indicated that an effective restructuring is palpable as costs fall quicker than revenue does. The company succeeded in its main annual goal, which was to reverse a downward trend in the financial services segment. The postal operator performed better than in 2013 in other segments as well. In the packages and courier services segment, its sales increased by 16 percent y/y, twice as fast as sales in the market as a whole. In the banking and insurance segment sales surged by 45 percent y/y.