Nova Poshta sees net profit rise by 73%, net income by 28% in 2019
The Nova Poshta group of companies in 2019 received UAH 13.453 billion in net income, which is 27.94% more than in 2018.
According to the annual financial report of the company according to IFRS (international financial reporting standards), the company's net profit in 2019 amounted to UAH 782.954 million, which is 72.97% more compared to the previous year.
The company's operating profit last year amounted to UAH 1.024 billion against UAH 493.746 million a year earlier, and gross profit some UAH 2.949 billion (UAH 1.965 billion).
As reported, Nova Poshta delivered more than 212 million parcels in 2019, which is 22% more than in 2018.
In 2020, Nova Poshta plans to invest $100 million in infrastructure development: launch the second phase of the Kyiv Innovative Terminal, to build four major innovative centers with an automated sorting system in Brovary, Dnipro, Odesa, and Kharkiv, to build the first cargo terminal with a robotic system for sorting pallets and bulky goods, to modernize departments and introduce new equipment to increase the speed of customer service.