A profit of DKK 371 million in the first quarter for Post Danmark
In the first quarter of 2008, Post Danmark achieved a profit after tax of DKK 371 million as a result of growing revenue and decreasing expenses. This is an improvement of DKK 86 million compared with the DKK 285 million profit after tax achieved in the same period last year.
Profit before tax was DKK 462 million compared with DKK 368 million in the same quarter the year before.
Despite declining letters volume, revenue rose for letters, the main reason being customers’ slower than expected change to using the new low-priced C letter product. Revenue fell for daily newspapers, magazine mail and local weeklies compared with the same period last year, while revenue and volume rose for unaddressed mail and parcels.
A positive trend was also seen in income from associates and joint ventures with a profit of DKK 106 million compared with DKK 76 million in the same quarter the year before. The increase was driven mainly by growth in revenue and a fall in expenses for the Belgian De Post – La Poste.
Post Danmark’s total income amounted to DKK 3,165 million in the first quarter, up DKK 41 million on the same period in 2007 where total income amounted to DKK 3,124 million.
The expectations for 2008 are maintained. In practice, this means total income on a par with 2007, an improved operating profit because of decreasing expenses and a somewhat higher profit before tax.
1 DKK = 0.207611 USD
In the first quarter of 2008, Post Danmark achieved a profit after tax of DKK 371 million as a result of growing revenue and decreasing expenses. This is an improvement of DKK 86 million compared with the DKK 285 million profit after tax achieved in the same period last year.
Profit before tax was DKK 462 million compared with DKK 368 million in the same quarter the year before.
– The profit performance achieved through growing revenue and lower staff costs resulting from a decline in the number of staff is satisfactory, Helge Israelsen, CEO, says.
Despite declining letters volume, revenue rose for letters, the main reason being customers’ slower than expected change to using the new low-priced C letter product. Revenue fell for daily newspapers, magazine mail and local weeklies compared with the same period last year, while revenue and volume rose for unaddressed mail and parcels.
A positive trend was also seen in income from associates and joint ventures with a profit of DKK 106 million compared with DKK 76 million in the same quarter the year before. The increase was driven mainly by growth in revenue and a fall in expenses for the Belgian De Post – La Poste.
Post Danmark’s total income amounted to DKK 3,165 million in the first quarter, up DKK 41 million on the same period in 2007 where total income amounted to DKK 3,124 million.
The expectations for 2008 are maintained. In practice, this means total income on a par with 2007, an improved operating profit because of decreasing expenses and a somewhat higher profit before tax.
1 DKK = 0.207611 USD
