La Poste reports billion-euro net profit
The French state-run postal service, La Poste, reported on Thursday a net profit of nearly a billion euros (1.5 billion dollars) and said it would pay a profit-sharing bonus to its employees for the first time.
The company is also to pay EUR 141 million, about 15 percent of its net profit, as a dividend to the state.
Net profit totaled EUR 943 million, operating profit reached EUR 1.285 billion and sales were EUR 20.8 billion, the company said.
GeoPost, the express holding, increased revenues by 6.8 pct to EUR 3,171 million, thanks to an 11 pct rise in international business and good domestic growth in Central Europe, Eastern Europe and the UK. The separate French domestic parcels business ColiPoste increased revenues by 7.4 pct to EUR 1.33 billion, driven by e-commerce which now generates more than 10 pct of sales.
La Poste said it expected to grow in line with its targets. It expected to invest a similar sum to last year’s EUR 1.2 billion on “internal” measures such as post office modernisation but was also ready to “seize opportunities for acquisitions in each of its businesses”.
The French state-run postal service, La Poste, reported on Thursday a net profit of nearly a billion euros (1.5 billion dollars) and said it would pay a profit-sharing bonus to its employees for the first time.
The company is also to pay EUR 141 million, about 15 percent of its net profit, as a dividend to the state.
Net profit totaled EUR 943 million, operating profit reached EUR 1.285 billion and sales were EUR 20.8 billion, the company said.
GeoPost, the express holding, increased revenues by 6.8 pct to EUR 3,171 million, thanks to an 11 pct rise in international business and good domestic growth in Central Europe, Eastern Europe and the UK. The separate French domestic parcels business ColiPoste increased revenues by 7.4 pct to EUR 1.33 billion, driven by e-commerce which now generates more than 10 pct of sales.
La Poste said it expected to grow in line with its targets. It expected to invest a similar sum to last year’s EUR 1.2 billion on “internal” measures such as post office modernisation but was also ready to “seize opportunities for acquisitions in each of its businesses”.
La Poste announced earlier this month that it aims to grow its international express and parcels business, build up new mailstream flows and offer new services under a new five-year strategic plan covering 2008 – 2012. As part of the “Performance and Confidence” plan, La Poste aims to increase its turnover by 2 pct a year on average and reach revenues of EUR 23.2 billion by 2012. It is targeting an operating profit of about EUR 2 billion and a profit margin of 8.5 pct in 2012.
