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Magyar Posta doing better than expected

The Hungarian Postal company, Magyar Posta Rt, is getting ready for the 2009 market liberalization, when it is expected to loose its monopoly. According to company CEO Pál Szabó, competition is the key element, which means that they have to further increase the quality of services, reduce operating costs, and create competitive postal tariffs. The company, currently employing 39,000, is becoming more and more profitable. By the end of August this year, they had planned on an operating profit of Ft 5.3 billion, whereas the actual figures went beyond Ft 10.3 billion. The investment expenses still to come before the end of the year are to somewhat reduce this number, which means the year-end operating profit will be around Ft 6.7 billion, which is about 30-35 % better than the planned and about 50% better that it was last year. Within the next 5 years, Magyar Posta is not expected to be privatized. (NV 13) E.C.