Post Luxembourg profits for 2016 financial year were revealed on Tuesday as a spokesman for the company announced them to be better than in 2015.

Post made a profit of 23.5 million euros last year despite a very difficult environment. Turnover grew by three percent and the operating result (EBITDA) for 2016 was 156 million euros. That makes it 13.2 million euros more than 2015.

“In view of the significant strategic investments approved in recent years, the valuation amounts to 127.2 million euro write-up representing an increase of 11 million euros compared to 2015. This affects the profit before tax, a 2.5 million euro increase,” Post Luxembourg said.