The parastatal's annual report shows that the profit base was squeezed by an unprecedented increase in other expenses which jumped from P426 000 last year to P2.7 million in the current reporting period. But despite the fall in profits, BotswanaPost Chairman, Martin Makgatlhe, believes that given the challenges it was faced with, the overall financial performance of his firm was satisfactory in the year under review. "This satisfactory performance is attributable, to among other issues, the benefits of a stable internal control environment which began to show significant improvements in the previous year," Makgatlhe says. "Growth in the non-traditional postal products also spurred revenues while the containment of administrative costs also helped."
BotswanaPost's revenues achieved an overall growth of 14 percent with most of the growth coming from non-mail business. Major revenue growth categories were agency services (49 percent), philatelic products (153 percent), EMS (53 percent), and box and private bag rentals (62 percent).
