Poste, gains, and revenue growth – The Republic

MILAN - Poste Italiane stores in the third quarter of 2016 with a profit of 242 million, an increase of 29% compared to the same period of 2015. The nine months of the year recorded a profit of 807 million (622 million last year), which become a 693 (+11% compared to the previous year), net of the positive effect of the sale of the investment in Visa. In June, remembers the group, in the context of the overall operation of acquisition of Visa Europe Ltd from part of the Visa incorporated, was completed in fact, the sale of the share held by the parent company in such a society, with the development of a non-recurring income of 121 million.

total revenue, including insurance premiums, in the last nine months have marked a growth of 7.6% to 25.7 billion. The operating profit, which amounted to 1.196 million, up 28.6% (930 million) thanks to the increase in revenues combined with a slight decline in operating costs. The data also benefited from the timing of realization of gains due to active management of the securities portfolio of Bancoposta.

The net financial position in the industry has a surplus of 274 million (compared to 307 at the end of December). The group’s net financial position shows a surplus of 7.7 billion, compared with 8,7 year-end. “A year after the listing, the Italian post office closes, the nine months results net revenue growth and margins, accelerating in the process of development and innovation that we have defined in the industrial plan,” said Francesco Caio, the chief executive officer.

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