Poste Italiane ups 2021 guidance after third quarter results By
© Reuters. FILE PHOTO: People follow social distancing rules as they queue outside a Poste Italiane in Bari while the spread of the coronavirus disease (COVID-19) continues, in Bari, Italy, March 27, 2020. REUTERS/Alessandro Garofalo
MILAN (Reuters) – Italy’s postal services group Poste Italiane on Thursday raised its full-year guidance as it posted an increase in third-quarter revenues and operating profit.
The group said it aimed to reach an operating profit of 1.8 million euros this year, 100 million more than initially forecast thanks to cost control, and a net income of 1.3 billion euros compared to 1.2 billion euros.
The company, which confirmed an interim dividend of 0.185 euros per share, also expects 2021 revenues to increase by 100 million euros compared to the original target of 11.2 billion euros.
The group — which includes insurance, financial and digital payment divisions beside the traditional mail and parcel business — said earnings before interest and taxes (EBIT) rose 18% to 566 million euros in the third quarter, slightly below an analyst consensus of 538 million euros.
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