Correos de México reported a sharp drop in net sales for all of its main business segments in 2017. Net sales for mail services fell 6.5%, driven by a 17.7% decline in total mail volumes for the year. Workforce reductions and operational efficiencies helped Correos de México reduce its operating losses, with the operator’s EBIT margin improving to -1.9% in 2017. For 2018, it forecasts that domestic net sales will grow strongly, partly offset by a decline in international sales. For more details, download the IPC Carrier Intelligence Report for Correos de México.
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