Spanish Post Office reports a 2 million euro loss

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As per reports by the postal company, Spain’s Post Office lost 2 million euro last year. The loss could have been much higher had it not been for the “rigorous adjustment” expenses. The Post Office had profited by 77.9 million euro in the year 2008.

As postal flow has reduced and is gradually being replaced by electronic mail, the turnover was down 4.5% over last year to 2043.7 million euro, said company sources.

Mail traffic last year amounted to 4630.6 million items, excluding foreign items and those generated due to the elections in many provinces which stacked up to 156.3 million. This shows a fall of 9.6% in mail traffic, mainly due to the economic crisis which made large emitters to decrease their shipments of mail and resort to other means of communication.

Telegraph products grew 2.2% in 2009, owing to the growth of Burofax, mainly in the online mode. Other services in offices offering multiple services also showed a positive trend, for example the bill collection at post offices, which went up by almost 59 percent.