A drop in parcels and express revenue, despite strong domestic express growth, drove a 2% decline in total revenue for Latvian Post in 2020.
Letter revenue increased 11% year on year, driven by adjustments to the universal service made at the start of 2020. However, this was not enough to offset declines in postal parcel and retail revenue. A drop in operating costs, despite higher wages, resulted in the post recording improved profitability despite the revenue decline. For more details download the latest IPC Carrier Intelligence Report for Latvian Post.
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