BAKU, Azerbaijan, July 25. Azerpost [postal service in Azerbaijan] LLC's revenues amounted to 33 million manat ($19.4 million) from January through June 2023, which is 3 percent more compared to the same period last year, Chairman of the Management Board of Azerpost LLC Afgan Jalilov said during an event dedicated to the results of the first half of 2023, Trend reports.
According to the results of the first half of this year, the net profit of the company amounted to 2.3 million manat ($1.3 million), he said.
"Our expenses amounted to 31 million manat ($18.2 million), which is 16 percent more compared to the corresponding period last year. A total of 55 percent of expenses (or an increase in salary expenses by 15 percent compared to the corresponding period last year) fell on salary expenses. So, at the beginning of 2023, an increase in the minimum wage by 17 percent (from 300 manat ($176.4) to 350 manat ($205.8) led to an increase in expenses," he said.
The profit of Azerpost LLC amounted to about 4 million manat ($2.3 million) in 2022. Along with the increase in revenues, expenses decreased by almost 50 percent last year compared to 2021.