The French postal service La Poste has announced revenues up 3.3% for the first quarter of the 2006fiscal year (up to 30 June) to just over 10 billion euros.
La Poste attributed the growth to the devolution of its banking business to subsidiary LaBanque Postale – currently being investigated by the European Commission – and acquisitions,including the B2B parcels operator Exapaq.
Express operations were up nearly 13% to 1.4 million euros, following the integration ofExapaq, with increased orders from Germany, the Benelux region and eastern Europe, the group saidin a release.
Net profits were up 7.3% to 2.29 billion euros. “Commercial activity was dynamic in lifeassurance and client equipment,” the statement said.
“In a competitive market, mortgages were up 29.3%,” it added, saying that internalinvestments in modernisation of express mail and parcels, and banking, were up 28%.
La Poste is currently renovating its customer service points throughout the country, havingcompleted 564 in the first seven months of this year, with a goal of 1,200 a year to beaccomplished.
