La Poste France 1H Net Profit EUR383 Mln

France’s state-owned postal service La Poste said Thursday its net profit more than doubled in the first half compared to a year-earlier period it called exceptionally weak. La Poste’s net profit was EUR383 million in the first half, up from EUR187 million last year when the company blamed increasing competition from electronic mail and a weak stock market for a plunge in its bottom line. Revenue for mail delivery, which accounted for 60% of La Poste’s EUR9.4 billion first-half revenue, rose 6.7% during the period thanks to higher prices for stamps, La Poste said. Financial services, a business on which La Poste increasingly depends to offset the cost of running its network of more than 17,000 outlets across France, posted net banking income-the equivalent of revenue-of EUR2.1 billion, up 4.5% from a year earlier, La Poste said.