Budget surplus of Egypt Post increases by 531%

The budget surplus of Egypt Post has increased by 531 percent to reach 1.41 billion pounds in the fiscal year 2015-2016.

The surplus increased by a whopping 876 million pounds from 165 million pounds in 2014-2015, said Essam el Soghayar, the chairman of Egypt Post in a statement Monday. 

He touched upon huge investments put into upgrading post offices to become integrated service centers, noting that this has created a favorable environment for clients and maximized revenues.

The 2015-2016 surplus is the highest in the history of Egypt Post, Soghayar said. 

Such unprecedented achievement is the outcome of a comprehensive strategic plan set up by Egypt Post to hone its competitive edge in the Egyptian market, he noted. 

Indeed, the plan has helped achieve a quantum leap in terms of improving services offered to citizens and upgrading skills, Soghayar further said.

For the first time in a long while, Egypt Post has signed contracts with banks and companies and has been able to regain trust of clients, he added.