Poste Italiane is 12% down in first quarter

Poste Italiane is 12% down in first quarter

National postal service Poste Italiane reported a 12 % year-on-year fall in first-quarter operating profit, due to lower capital gains from government bond sales and higher costs says Reuters.

Earning before interest and tax (EBIT) came in at 617 million euros ($691 million), down from 703 million euros in the same period of last year, according to a company statement. Adjusted to exclude one-off items EBIT rose 6 %.

Total revenue at the group, comprising of an insurance and a financial division, the traditional mail and parcel business and a digital payments unit, fell 1.5 % year-on-year to 2.84 billion euros.

Sales at Poste’s mail and parcel division, which are an indicator of the group’s ability to turnaround its traditional business, fell 2.1 percent for a 44 percent drop in the unit’s EBIT.

A new parcel sorting centre in Bologna was set to add daily capacity of 250,000 parcels, Chief Executive Matteo del Fante reportedly said. ($1 = 0.8926 euros).

Relevant Directory Listings

Listing image

Spectos GmbH

The Spectos Group, headquartered in Dresden, Germany, is an independent and internationally acknowledged company in the fields of market research, data analytics, technology, digitization and operations. Spectos supports its customers with tailor-made B2B solutions for the monitoring, management and design of their service quality in […]

Find out more

Other Directory Listings

News Archive

Advertisement

MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

P&P Poll

Loading

Which stories do you most like reading about on Post & Parcel?

Thank you for voting
You have already voted on this poll!
Please select an option!






Pin It on Pinterest

Share This