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Azerbaijan's Azerpost, Azercosmos deny information about ending 2022 with loss

ICT Materials 7 January 2023 15:23 (UTC +04:00)
Azerbaijan's Azerpost, Azercosmos deny information about ending 2022 with loss
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, January 7. Azerbaijan's Azerpost LLC and Azercosmos OJSC denied the information spread in social networks about the end of 2022 with a loss, Trend reports.

Since 2021, Azerpost has launched large-scale reform programs in several areas, including the organizational structure, resource management, operations and cost optimization.

“The implementation of reforms that continued in 2022 are also yielding positive results in terms of increasing revenues. Besides, in 2021, the LLC reduced the amount of losses incurred in 2020 by 30 percent, even despite a significant reduction in government subsidies,” Azerpost said.

“Internal calculations show that as a result of the implemented activities, Azerpost completed 2022 with a profit of 3.5 million manat ($2.06 million)-four million manat ($2.3 million)," the company noted.

Azercosmos added that the company has completed the year with a profit for the third year in a row.

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