Egypt Post achieves EGP 4.4 billion surplus in FY2022/2023

Ahram Online , Friday 29 Dec 2023

The National Post Authority has announced a remarkable net surplus of EGP 4.422 billion from its 2022/2023 budget, chairman Sharif Farouk announced.

Egypt Post

 

According to the statement issued by Farouk, Egypt Post recorded a net profit of EGP 4.422 billion, marking a net profit growth rate of 21 percent.

Service revenues have also seen a substantial increase, reaching EGP 5 billion with a similar growth rate of 21 percent.

Additionally, the savings fund deposits have accumulated to EGP 266 billion.

The statement added that Egypt Post achieved milestones in the past three years in financial inclusion and digitization, significantly enhancing service quality and variety.

Moreover, the renovation of existing post offices and the establishment of new ones, complemented by mobile post office vehicles and kiosks, have made postal services more accessible to the public.

The Chairman of Egypt Post indicated that these improvements to the postal system are the main cause of the increase in revenues.

These initiatives have significantly bolstered Egypt Post’s position in the market, maximizing competition potential, restoring customer confidence, and reclaiming a major market share.

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