Ukraine's Nova Poshta net profit up 70% in 9M, Q3 loss
Nova Poshta, part of the NOVA group, saw its net profit rise 70% year-on-year in January-September to UAH 2.629 billion but posted a net loss in the third quarter, according to its interim condensed financial report.
Nova Poshta, a subsidiary of the NOVA group, reported a 70% increase in net profit for the first nine months of the year, reaching UAH 2.629 billion. However, the company posted a net loss for the third quarter, down UAH 80.27 million from the same period last year. Revenue for the nine months grew 32.5% year-on-year to UAH 50.263 billion, while third-quarter revenue reached UAH 17.774 billion, up 33.8% year-on-year.
Gross profit for the nine months increased 13.6% to UAH 8.801 billion, but operating profit fell 10.6% to UAH 3.098 billion. For the quarter, gross profit rose 6.3% to UAH 2.757 billion, and operating profit dropped 37.7% to UAH 711.37 million. The company's equity at the end of September was UAH 11.765 billion, compared to UAH 13.362 billion at the beginning of the year.
In the nine-month period, Nova Poshta delivered 379 million items, 25 million of which were international shipments, compared to 522 million items, 29 million of which were international, in all of the previous year. During the same period, the company opened 2,300 new branches and installed 6,800 parcel lockers, bringing the total network to 17,300 branches and 39,700 lockers as of September.
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