Swiss Post posts a profit of 126 million francs in the first half of the year
Published: Thursday, Aug 22nd 2024, 11:00
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Swiss Post posted a profit of 126 million francs for the first half of 2024. This is roughly on a par with the previous year. In 2023, the profit was eight million francs lower, as Swiss Post announced on Thursday.
The current operating result fell slightly compared to the first half of 2023. According to the press release, it amounted to 160 million francs in 2024 and was therefore five million francs lower than in the same period of the previous year.
As in the past, Swiss Post has had to contend year after year with lower letter traffic, fewer payments at the counter, continuing pressure on the parcel market and subdued prospects in the interest business, according to the press release.
Nevertheless, it was possible to increase the result in the core logistics business with letters and parcels, thus compensating for the slower earnings growth at Postfinance. This achieved an operating result of 89 million francs, which corresponds to a decrease of 36 million francs compared to the same period in the previous year, according to the statement. The key interest rate cuts by the Swiss National Bank on March 22 and June 21 led to lower interest income. This is an important pillar of Postfinance.
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