Swiss Post sees profits increase for Q1
Swiss Post generated a group profit of 267m francs for the first quarter (Q1) of 2017, up 75m francs on last year. Operating profit (EBIT) rose by 126m francs to 333m francs, mainly due to capital gains from the sale of two equity portfolios at PostFinance. Operating income was up by 2.7% at 2,125m francs.
“The result achieved in the first quarter shows that the efficiency measures we have introduced are taking effect, as is the further development of our services”, said Susanne Ruoff, Swiss Post CEO. “Despite the good start, the transformation of Swiss Post is still an ongoing, long-term task, as pressure on the Group units remains high due to structural changes in the market environment”.
PostMail operating profit was down 7m francs at 105m francs, and both the number of addressed letters and newspaper delivery volumes were down 1.9%.
PostLogistics operating profit was up 3m francs at 27m francs, mainly as a result of a 6.5% increase in parcel volumes. Operating income rose by 11m francs to 392m francs.
Click here to see a full statement from Swiss Post.
