Swiss Post said that it has made a good start to 2006 with higher Q1 profits thanks to
Announcing quarterly results for the first time, the postal group said its revenues rose 3.5% toCHF 1,927 million in the first three months of 2006. Profits before interest and taxation (EBIT)rose by 9.4% to CHF 209 million, representing a 10.8% profit margin. The net profit rose to CHF 211million from CHF 191 million. The profits increase was primarily due to property sales whichgenerated proceeds of CHF 17 million.
The mail business suffered a 2.4% drop in revenues to CHF 876 million, and its EBIT declined by20% to CHF 56 million. This is a 6.4% profit margin, which is low for the mail sector.
The logistics segment increased revenues slightly to CHF 335 million and raised its EBIT to CHF31 million from CHF 23 million in the first quarter of 2005. International grew its revenues by 6%to CHF 265 million, and improved its EBIT by 54% to CHF 17 million. All business segments wereprofitable.
