Poste Italiane revenues down 2.3% in Q1

The next few months will be key to the preparation of a new strategic plan that Post Italiane hopes will support its pursuit of growth.

In a statement, Poste Italiane also reported that its Board of Directors has approved its Interim Financial Report, which showed that the group had achieved consolidated revenues of €9.5bn in the first quarter (Q1) of 2017, down 2.3% on last year. Consolidated operating profit was down 6.4% at €526m and net profit was down 4.4% at €351m.

Matteo Del Fante,  the recently-appointed Chief Executive Officer and General Manager, said: “In the weeks since my appointment I have been working closely with the management team – to whom I extend my thanks – in order to ensure the continuity of the Company’s managerial and operating processes.

“Regarding the Q1 results, total revenues were substantially in line with the same period of last year, despite the sharp contraction in the insurance market as well as the inevitable decline in traditional mail. On the other hand, the parcels and logistics segments grew significantly compared to the same period of the previous year.

“The next few months will be key to the preparation of the new strategic plan which will enable the Group to continue its pursuit of growth. In particular we will be focusing on broadening our product offering in insurance and asset management.”

Del Fante added: “On the postal-logistics front, we will continue to strengthen our parcels business, driven by e-commerce and ongoing improvements on the quality of postal services.”  
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