Correos delivers

SPAIN’S national post service, Correos, has won two awards at the World Post & Parcel Awards 2023

It scooped the prizes for the Correos Market app, and in the Postal Evolution category for the Correos Frío service.

The public company said in a statement that these awards are considered the ‘Oscars of the postal and logistics sector’.

“The Spanish economy has shown remarkable resilience in the first half of the year,” highlights the Bank of Spain’s quarterly report.

The entity believes that inflation will close the year at an average of 3.2% compared to 3.7% in its last quarterly report in March.

THE El Corte Ingles Group closed the 2022 financial year with global revenues of €15.3 billion - up 22.5% compared to the previous year with net profits rising seven-fold to €870 million.

The group says the results are down to the way it has developed its business, cut costs, and introduced management improvements which has allowed it to consolidate growth despite customers having to endure higher inflation and interest rates.

“The solid financial position together with a strong recovery in profitability will allow the group to undertake new projects in the future,” an El Corte Ingles statement said.

The main growth driver has been the retail side of the business, which achieved sales of €12.2 billion representing a growth of 7.8% compared to the previous year with fashion doing well as sales went up by 16.3%.