Postal service's profit up

Postal service's profit up

JAKARTA (JP): The state-owned postal firm, Perum Pos dan Giro,
yesterday reported a 2.1 percent increase in profit to Rp 51.06
billion last year to Minister of Tourism, Post and
Telecommunications Joop Ave.

The postal service's finance director, Djaelani Hidayat, said
that last year's profit, up from Rp 50 billion in 1992, was far
higher than the company's target of Rp 47 billion.

He also said that most of last year's profit was derived from
letter mailing, followed by money transfers and package mailing.

"This year, we expect to gain a total profit of Rp 53
billion," Hidayat said, adding that the increase is quiet small
due to stiff competition with the private courier firms offering
package delivery.

In a related development, a source at the ministry said
yesterday that the postal service will shift its status from a
public services firm to that of a company more oriented to making
profits early next year. The source also said that the
arrangements for the change have been analyzed since late 1993
and that the Ministry of Finance has approved the shift in
status. (icn)