Poste Italiane to register profit for 2003 – Enzo Cardi

Italian state-owned postal services company Poste Italiane SpA expects to register a profit for 2003, the president of the postal company, Enzo Cardi, announced on April 28, 2004.

Poste Italiane will swing into profit for the first time after two years in the red, Cardi said. The financial results, which will be examined by the board of directors of the company in the week starting May 3, 2004, are expected to confirm the positive trend. Cardi expressed satisfaction with the acquisition of a 35 pct stake in Poste Italiane by Italy’s non-bank credit institution Cassa Depositi e Prestiti SpA (CDP), which took place at the end of 2003.