La Poste delivers strong profit growth
The French post office, La Poste, is set to announce a 49 per cent rise in its net profits for 2005, to 557m euros, having been expecting just over 400m euros. An operating margin of 3.6 per cent is forecast (up from 2.8 per cent in 2004), broadly in line with the 3.5 per cent predicted in December. Chairman Paul Bailly should tell his board on Monday that turnover was up by 3.6 per cent to 19.35bn euros, with operating profits increasing by 35 per cent to more than 700m euros. The good figures are due to cost cutting, as well as growth in express and parcel services. Mail distribution revenue continues to fall.
