BAKU, Azerbaijan, December 27. The net profit of Azerbaijan’s Azerpost LLC given the created reserves is expected to be four million manat ($2.3 million) to 4.5 million manat ($2.6 million) in 2022, Board Chairman of the LLC Afgan Jalilov told Trend.
"Analyzing the results of the last three years, we can see that Azerpost ended 2020 with a significant loss. The reforms launched in 2021 allowed a significant reduction in the amount of damage for the previous year, and we can say that as of today Azerpost finally has reached a profit," Jalilov said.
The board chairman emphasized that this indicator is a significant result over the past five years.
He added that the state subsidies in 2022 equaled 100,000 manat ($58,820) against at least one million manat ($588,200) in previous years.
"The profit growth against the backdrop of a significant reduction in subsidies is an indicator of real success," Jalilov stressed.
Besides, he reminded that on June 1, 2022, the Azerpost postal service, the only national postal operator in Azerbaijan, marked the 204th anniversary of its establishment.
"We can say with confidence that today Azerpost is at the stage of full adaptation to international practice. Presently, the world's leading post offices are no longer limited to providing universal postal services. As the world, times and processes change rapidly, so do the demands of people,” the board chairman explained.
“In the past, we had such a means of communication as a letter and a service corresponding to it, but now this service is relevant mainly for state and non-state organizations," Jalilov concluded.