STOCKHOLM, July 18 (Xinhua) -- The state-owned Swedish-Danish package and mail company Postnord announced a loss of 912 million SEK (103 million U.S. dollars) before tax for the second quarter of the year, the Swedish Television SVT reported Wednesday.
For the Swedish-Danish company Postnord the operating loss amounted to almost 1.1 billion SEK (120 million U.S. dollars), the report said.
To cover losses in Danish postal service, EU among others approved a state aid of 1.5 billion SEK (170 million U.S. dollars) during the second quarter.
"Our earnings are strongly influenced by the losses in Denmark and that the Swedish company has increased costs to ensure high delivery quality," CEO Hakan Ericsson writes in a comment from Porstnord.
The company's net sales increased to 9.5 billion SEK (1.08 billion U.S. dollars). Last year's net sales for Postnord was 9.1 billion SEK (1.03 billion U.S. dollars). (1 U.S. dollar = 8.82 SEK)
