Swiss Post profits up

In the face of difficult conditions, Swiss Post has reported increases in profits and revenues, though the postal operator admits this is down to some one off payments.

Profits went up to 516 million Francs for the first three quarters of the financial year, 50 million Francs up on the same period last year.

Swiss Post’s operating profit was also up by 106 million Francs to 699 million Francs.

However, Swiss Post pointed out: “The improved result was principally due to one-off effects at PostFinance. Pressure remains high on the core operating business.

“The volume of addressed letters decreased once again, while over-the-counter logistics products and payment transactions also suffered a further decline.”

In a statement , Swiss Post said that the decline in mail volumes and the ongoing low interest rate situation in the financial services market underline the need for the company to “push ahead with its transformation in order to remain competitive in the future and to be able to finance a high-quality universal service from its own resources”.

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