Russia is facing a fresh economic nightmare as pre-tax losses at the country’s post firm have nearly doubled, data suggests. The net loss of JSC Russian Post – the company responsible for the delivery of mail and the issuing of postage stamps – amounted to 14.9billion rubles (£139million) in Q1, according to Russian news service Interfax. This figure more than double the same period in 2024, according to the firm’s financial statements say.
Russian Post’s revenue in January-March amounted to 52.5billion rubles (£490million), down 4.4% compared to the same period last year. This included revenues from postal services amounted to 26.5billion rubles (£247million), having decreased by 9.3%. Revenues from the sale of goods decreased by 5.2% – to 6.2billion rubles (£57million). The commission for the provision of services for the payment of pensions and benefits increased by 1.9% – to 8.7billion rubles (£81million).
The company received a commission for services for accepting utility payments. Operating losses increased by 1.8 times to 10 billion rubles (£93million).
The loss before income tax amounted to almost 15 billion rubles (£140million), increasing by 1.7 times compared to the figure for the first quarter of 2024.
It comes as Russia’s stock market went down as the main trading session started on Monday, with the MOEX Index falling by 1.18% to 2,795.5 points, the TASS news service reports.
The the RTS Index lost 1.18% to 1,120.17 points, according to trading data as of 10am Moscow time.
Although, Russia’s Manufacturing Purchasing Managers’ Index (PMI) rose to 50.2 points in May 2025 from 49.3 points in the previous month, the S&P Global analytical agency said in a report.
“The latest upturn followed back-to-back declines, but was only fractional overall and below the series average,” the document said.
A score of more than 50 represents economic expansion, and below 50 hints at contraction compared to the month prior.
It is claimed that a fresh increase in new orders at manufacturers in May contributed towards the rise in the headline index.
