Poste Italiane reports jump in profits

Poste Italiane, which was part-privatised through an initial public offering (IPO) last month, has reported a profit of €622m for the first nine months of 2015. This was a jump of 87% on its performance for the same period last year. Total revenues for the group were up by 6% but sales for the postal division dropped by 6.5%.

Poste Italiane’s CEO Francesco Caio said that, given the nine-month results, the group is seeing “a sharp improvement in 2015 compared with 2014”.