Italy post 2013 fall in first half profits

The latest data show that, despite the financial and insurance business growth, but because of the decline in the country's economic situation as well as the mail volume, Italy post group profit in the first half of 2013 fell.
Thanks to the development of financial and insurance business, the group first half revenue growth of 2.8%, to 13000000000 euros. But because of rising operating costs and net profit fell 12.9%, to 362000000 euros, its operating profit fell by 13.4%, to 661000000 euros.
The first half of 2013, its core postal business revenue fell 4.8%, to 2280000000 euros, operating profit fell 49%, to 154000000 euros. However, the express parcel subsidiary SDA development. 4.4% to 232000000 growth in the first half of the revenue, the operating losses by half, to 13500000 euros.
Company income and profit growth was mainly due to the financial and insurance business development. BancoPosta financial services business revenue increased 3.2% to 2700000000 euros, based on, operating profit increased by 21.9%, to 284000000 euros. 5% PosteVita growth in the insurance business based on the income, to 7900000000 euros, but its profit fell 6.4%, to 204000000 euros.
MYEX Minya Express International
2013-08-30