Minister Masiulis says that in two years Lithuanian Post should become a regional enterprise

Date

2010 12 10

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“We plan to strengthen the enterprise. The enterprise should meet all required standards of transparency, efficient administration and potential growth. Until the year 2013 we should be ready to apply to stock exchange”, said Minister Masiulis.

 

Plans of the enterprise‘s reform are included in the Strategy of Lithuanian Post activity plans for the period of 2011–2013.  

 Real losses of the enterprise became clear only after the audit, which was performed in 2009. Therefore, until 2009, the losses have reached the sum of 63 million LTL. This caused the displacement of governance of the enterprise.   

 

In 2011 the Lithuanian Post is planning to earn 0.6 million LTL, and in 2012 to have even 2.4 million LTL profit.

 

“The enterprise has now the task to increase revenues, provide marketable services meeting client’s demands. Also the enterprise should make its operation more efficient, so as to be competitive in Lithuanian and foreign markets”, said the Minister.

 

Next year the Lithuanian Post is planning to increase profits from 172 million LTL to 217 million LTL.