bpost: results in line, shares rise in relief rally
(CercleFinance.com) - bpost said its second-quarter results were "in line" with its expectations, driven by strong organic growth as its parcels business benefited from e-commerce development.
The Belgian postal company said its operating income rose by 32.7% at 928.4 million euros in the past quarter, helped by acquisitions and "excellent" parcels growth.
As expected, EBITDA fell to 140.4 million euros, from 159.3 million euros a year earlier, due to higher costs.
In its statement, bpost said that it is on track to deliver 2018 normalised EBITDA that is at the lower end of a range of between 560 million to 600 million euros, while it expects to pay a dividend "at least" the same as its level last year (1.31 euros).
Investors seemed to be relieved by this, with the stock up 7.7% on Euronext Amsterdam this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Belgian postal company said its operating income rose by 32.7% at 928.4 million euros in the past quarter, helped by acquisitions and "excellent" parcels growth.
As expected, EBITDA fell to 140.4 million euros, from 159.3 million euros a year earlier, due to higher costs.
In its statement, bpost said that it is on track to deliver 2018 normalised EBITDA that is at the lower end of a range of between 560 million to 600 million euros, while it expects to pay a dividend "at least" the same as its level last year (1.31 euros).
Investors seemed to be relieved by this, with the stock up 7.7% on Euronext Amsterdam this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.