Swiss Post profits down

Swiss Post has reported a profit of 192m francs for the first three months of 2016, which was about 33m francs down on the same period last year. In a statement issued today (26 May), Swiss Post said that the “subdued” result was due to the “difficult market environment”.

Operating profit was down 85m franc at 2007m franc, while operating income fell from 2,128m francs to 2,069m francs.

In the communication market, Swiss Post’s operating profit was down 11m francs to 72m francs, which the company said was principally due to one-off effects at Post Offices & Sales.

Swiss Pots commented: “The decline in the volume of addressed letters was more pronounced year-on-year. The number of addressed letters fell by 3.3%. In the logistics market, PostLogistics recorded an operating profit of 24m francs (previous year: 31m francs).

“Despite additional income from the 3.9% rise in parcel volumes, increased demand for value logistics solutions and company takeovers, operating profit dropped due to one-off effects.”