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Egypt Post registers EGP 1bn surplus in budget for FY 2015/2016 Investments in post offices reduced operational costs and maximised revenues, says authority head
The National Post Authority's board of directors approved the budget for the fiscal year (FY) of 2015/2016 with a surplus of EGP 1.04bn, compared to EGP 165bn the previous year. The surplus achieved by the authority is the result of a comprehensive and strategic plan developed by the authority to make a qualitative leap in all sectors and services, as well as a technological breakthrough to enhance its competitiveness, head of the National Post Authority Essam El-Sagheer said. He explained that the implementation of this plan, optimal investment of the authority's assets, and automating the operational processes helped make a quantum leap in the development of services, thus improving their quality. The investment in the human element in this system was done through continuous training and enhancing the efficiency of personnel. All these factors led to expanding the authority's opportunities in the Egyptian market, as the authority contracts with a group of banks and companies to provide services in partnership with them. He pointed out that large investments into the development of post offices, converted these into fully automated and integrated service centres equipped with the latest alarm systems, surveillance cameras, and fire protection systems. The surveillance system is centrally linked to the main data centre that is managed by central paging systems to provide various services to customers. These factors provided an appropriate environment for customers and reduced operational costs which in turn maximised revenues and registered the highest surplus in the history of the authority, he said. The results index for the first quarter of FY 2016/2017 indicates that the authority's surplus registered EGP 700m.
