18% growth for Pitney Bowes in Q1

Postal and parcel technology giants Pitney Bowes has reported that revenues for Q1 of 2018 were 18% up on last year to $983 million.

The Commerce Services group, which also includes the Global Ecommerce and Presort Services segments, saw 73% revenue growth.

Meanwhile the SMB Solutions revenue declined by 6%. Software Solutions grew marginally 94%) and Production Mail saw a 9% growth.

In a statement issued today (2 May), Marc B. Lautenbach, President and CEO, Pitney Bowes, said: “Our performance continues to show that Pitney Bowes is moving to growth and our strategy is delivering results.

“Revenue was strong in the quarter as our business continues to shift to the higher-growth markets. Our first quarter results demonstrate that we are making progress which sets us up to deliver our financial commitments for the year.”

The company also noted that has signed a definitive agreement for the sale of its Document Management Technologies (DMT) production mail business to Platinum Equity for $361m.