CAMBODIA Post (CP), which plans to list on the local bourse, earned 8.1 per cent more revenue year-on-year in 2012, driven in part by its recent transformation from a wholly state-owned delivery company into a semi-autonomous entity.
Revenues last year hit more than $4 million, compared with $3.7 million in 2011, CP director general Ork Bora said. The company was partially privatised by the Ministry of Posts and Telecommunications in 2011, a move intended to improve its services and management to compete with the numerous private delivery companies.
“We received good business performances in the two years since our transformation because we upgraded and bettered our services and coverage in order to compete with some 20 other private companies,” Bora said. “We increased the number of deliveries locally and abroad.”
Two other factors that led to the revenue increase, he added, were an improvement in the country’s infrastructure and an increase in the number of Cambodians working abroad.
“I have also noticed that whenever we have more and more people going to work abroad, we get a lot more deliveries,” he said, adding that CP has already increased the frequency of its overseas deliveries, from once to three times a day.
CP is currently conducting market studies in Qatar and also negotiating with Air France to expand its services to Europe, Bora said.
The Post reported earlier this year that Telecom Cambodia, also under the Ministry of Posts and Telecommunications, lost about $14 million in 2011 and $10 million last year.