PostNord reported a loss before tax of SEK 282 million for the second quarter. That compares with a profit of 455 million in the corresponding quarter last year.
Net sales decreased 1 percent to 9.59 billion crowns. The decline is mainly due to declining mail volumes.
“The rapidly growing e-commerce continues to be a major driver. New entry regulation in Denmark creates opportunities for a more efficient production. With the continued volume drops in mail operations have been the realization of our strategy a top priority, “writes PostNord’s President and CEO Håkan Ericsson in the report.
Letter mail volumes overall fall of 8 per cent, in Denmark, the decline was 17 percent. In Sweden decreasing mail volumes by 6 percent.
Ericsson admits that the conversion work carried out in Sweden and Denmark led to “some quality defects on the letters page.”
“Strong measures and continuous focus led to the quality of the quarter is back at a high level in Sweden, but it remains to continued improvements in Denmark, “he writes.
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