Poste Italiane post net profit
Italian state-owned postal company Poste Italiane posted a net profit of EUR2.0m (USD2.2m) for the first half of 2003, compared to a net loss of EUR61.9m (USD68.6m) for the same period of 2002, it was reported on September 5, 2003. Poste Italiane reported an operating profit of EUR167m (USD185.1m), a 63.5% increase. The company registered earnings before interest, tax, depreciation and amortisation (EBITDA) of EUR441m (USD488.7m), a 31.6% rise. Poste Italiane generated a revenue of EUR3.783b (USD4.192b), up 3.6%. The Italian company expects its full year results for 2003 to be higher than in 2002, the company said.
