Itella, the Finnish postal group, announced today that it generated strong growth in sales andoperating profits in both the first half and the second quarter of 2007. Its logistics business,
incorporating parcels and freight transport, was one of the revenue growth drivers.Over the first half-year, Itella increased its consolidated net sales by 10% to EUR 839.7million and its consolidated operating profit improved by 26% to EUR 65.6 million. This representeda 7.8% operating profit margin.
In the April-June second quarter, Itella’s consolidated net sales grew by 9% to EUR 408.2million. Consolidated operating profit for the period improved by 37% to EUR 19.7 million, whichwas a 4.8% profit margin.
Itella Logistics, which covers the parcel and freight transport activities, recorded a netsales increase of 23% to EUR 307.3 million between January and June, but its operating profitdropped to EUR 15.8 million from EUR 16.7 million. In Q2, it recorded a net sales increase of 21%to EUR 155.7 million but profits declined to EUR 5.2 million from EUR 7 million one year earlier.
Logistics revenue growth was driven by “intensive” demand, including strong growth for parcelservices in Finland, Itella said in its Q2 report.
