Swiss Post posts higher profit in the first nine months
Published: Tuesday, Nov 19th 2024, 13:20
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Swiss Post increased its profit figures in the first nine months of 2024 compared to the same period of the previous year. It benefited in particular from an improved result in logistics services.
As the federal company announced on Tuesday, Swiss Post was thus able to compensate for the slowdown in earnings growth at PostFinance in the third quarter. Swiss Post's operating result amounted to 231 million francs at the end of September 2024, which corresponds to an increase of 11 percent.
The bottom line was a 23 percent improvement in consolidated profit to 178 million francs.
The structural decline in volumes and the volatile interest rate environment remain a challenge for Swiss Post, says CFO Alex Glanzmann in the press release. Parcel volumes fell by 3.7 percent compared to the previous year, while Swiss Post recorded a 5 percent decline in letter volumes. Payment transactions were also down again, falling by 11 percent compared to the same period last year.
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