Poste Italiane could exceed year-end growth targets

The chief executive of Italian postal operator Poste Italiane, Massimo Sarmi, said yesterday that the group could also exceed its 2005 targets. Poste’s half-year results, to be released on October 3, indicate a growth trend, he said.

Mr Sarmi confirmed the group’s target of annual revenue growth of 3.5 per cent in 2006-2008, accompanied by 5 per cent annual growth in EBITDA and 10 per cent in operating profit. The group also announced a five-year contract to provide correspondence managemet to Italy’s financial police force.