Increased profits for Sweden Post

The state-owned Swedish postal service reported net profits of 395m kronor for the first half year. That's an increase of 24% on the same period last year.

However, turnover dropped marginally from 12.5bn to 12.35bn kronor.

Profits for the second quarter almost doubled from 121m to 219m kronor compared with last year.

Sweden Post’s chief executive, Erik Olsson, commented:

“The rationalisations which have been planned and carried out make up for a somewhat lower turnover and increase the group’s productivity.”

TT/The Local