Despite market uncertainties, Posti Group saw an improvement in profitability in the first quarter of the year. The interim report revealed that the group’s turnover decreased by 3.9 percent to 382.1 million euros, but the adjusted operating profit increased to 21.2 million euros, up from 9.6 million euros at the same time last year.
Posti attributed the decline in turnover to a drop in demand and political strikes that affected its storage and business area’s turnover at the beginning of the year. Acting managing director Timo Karppinen cited cost control as a reason for the improvement in profitability, despite market uncertainties impacting net sales in the quarter.
Karppinen will continue to lead Posti Group until Antti Jääskeläinen takes over as CEO after the summer holidays. Jääskeläinen previously worked as a business area manager at UPM and is set to lead Posti Group in the future, following the departure of former CEO Fur Kuusisto to Finnair.
Posti Group is a state-owned company in Finland that operates as one of Finland’s largest logistics providers, offering postal services and other delivery solutions across Europe.
