Emirates Post achieves record net profit of Dhs. 123 million in 2004

Announcing the financial results at a press conference in Dubai, His Excellency Sultan Said Bin Naser Al Mansoury, UAE Minister for Communications and Chairman of Emirates Post, said that for 2005 the corporation was aiming for a 12 per cent increase in profit over the targeted figure for 2004.

'The record profit of Dhs. 123 million is the result of dynamic measures taken by Emirates Post in pursuit of a modern business strategy driven by diversification and innovation, with a strong focus on leveraging the postal network for delivering multiple postal and non-postal services,' H.E. Al Mansoury said. 'Emirates Post has thus succeeded in creating a model federal organization that uses modern management strategies to offer value-added services, while focusing on creating profit without compromising on quality.'

'The journey, which began in 2001 after Emirates Post became a commercially driven corporation following a Federal Decree, has now entered a crucial phase. Over the past few years, Emirates Post has achieved dynamic growth by creating value-added services through the use of technology and by establishing alliances with leading local and international players,' H.E. Al Mansoury added. 'Emirates Post has lined up a number of new initiatives for 2005 that will see the corporation consolidating its status on the regional and international map.'

Speaking on the occasion, Mr. Abdullah Al Daboos, Director General, Emirates Post, said the corporation had succeeded in strengthening its market position and expanded its customer base in spite of stiff competition from numerous courier companies and hundreds of cargo agencies. Emirates Post's network now consists of 77 post offices, and diversification areas include retail, mail fulfillment, mail aggregation through Dubai Air Mail Transit Hub and direct marketing.

'The year 2004 marked several major developments in the evolution of Emirates Post. One of the most significant developments was the signing of agreements with public sector and private organizations to diversify our portfolio, to achieve our larger vision of converting post-offices into one-shops for multiple services,' Mr. Al Daboos said.

Among the highlights of the year were partnerships with SEWA for bill payments, Sharjah Medical District for medical services licences, Dubai Municipality for parking fines, Etisalat for payment of bills, Sharjah Traffic Department and Dubai Department of Economic Development for trade licence renewals as well as private sector companies like Air Arabia and Cellucom. Emirates Post also signed new postal agreements with Sri Lanka, Indonesia, Yemen and Egypt to upgrade postal services to these countries.

The year also marked the formal opening of the Training & Development Centre which has now become a preferred training centre for Universal Postal Union (UPU) training programmes, delivering programmes for regional postal organizations.

Improved customer feedback schemes were launched, including a Mystery Shopper programme to assess the standards of service at post offices and the 'Express Yourself and Win' campaign that gave customers a chance to express their suggestions and opinion by filling comment cards.

'Emirates Post continued to make progress in its Emiratisation programme. During 2004, overall Emiratisation reached 55 per cent, while at the higher management level it reached 100 per cent. In an effort to encourage more Nationals to join our corporation, we have introduced new incentives like an interest-free housing loan of up to Dhs. 600,000. In addition, we have hiked national employees' salaries by 15 per cent and introduced allowances for children's education and foreign travel,' Mr. Al Daboos said.

Mr. Al Daboos revealed that in 2005, Emirates Post's non-postal services would be expanded in scope, with the opening of more Union National Bank branches at post offices, more retail services offering a host of products and more government services. Mr. Al Daboos also said that Emirates Post would continue to invest in new post office buildings, including the construction of commercial buildings.

H.E. Al Mansoury and Mr. Al Daboos presented certificated and trophies to editors and media professionals who provided coverage to Emirates Post events as well as partners who worked with Emirates Post to contribute to its success during 2004.