Poste Italiane Q2 net profit up 44% on strong payment & mobile business
Reuters
Published Jul 28, 2022 02:40AM ET
MILAN (Reuters) - Net income at Italy's Poste Italiane rose 44% in the second quarter to 469 million euros, mainly thanks to strong growth in the payment and mobile division and cost-cutting in the mail and parcel segment, the company said on Thursday.
The company, which includes a financial and an insurance services division, reported improvement in the traditional mail and parcel segment also thanks to the purchase in March of a 70% stake in health logistic firm Plurima.
Payments and mobile unit revenues rose 21% year-on-year in the second quarter to 250 million euros ($255.58 million), beating an analysts' consensus provided by Poste of 243 million euros.
Poste said it expects to report an operating profit of 2 billion euros in 2022, up from 1.85 billion euros last year.
($1 = 0.9782 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.