bpost: stock soars after results
(CercleFinance.com) - The bpost share was up sharply on Wednesday on Euronext Brussels after the Belgian postal group reported higher than expected interim profit and sales.
At around 11:30 a.m., the share was up over 14%, a surge that "softens" its the year-to-date decline to less than 34%.
Yesterday evening bpost announced that its Q2 2020 operating income reached 1.05 billion euros, up 12.5% y-o-y.
The operator explains this increase by the strength of e-commerce and the need to meet customer demands during what it describes as a "difficult" period.
EBIT came in at 70.2 million euros, down 30% from 101.8 million euros at the same time last year.
In a statement, the group nevertheless confirms that it expects FY 2020 adjusted EBIT of 240-270 million euros, while specifying that its board of directors will recommend that no dividend be paid out of earnings for the financial year 2020.
Indeed, the group mentions a "high" level of remaining uncertainty due to the Covid-19 crisis.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
At around 11:30 a.m., the share was up over 14%, a surge that "softens" its the year-to-date decline to less than 34%.
Yesterday evening bpost announced that its Q2 2020 operating income reached 1.05 billion euros, up 12.5% y-o-y.
The operator explains this increase by the strength of e-commerce and the need to meet customer demands during what it describes as a "difficult" period.
EBIT came in at 70.2 million euros, down 30% from 101.8 million euros at the same time last year.
In a statement, the group nevertheless confirms that it expects FY 2020 adjusted EBIT of 240-270 million euros, while specifying that its board of directors will recommend that no dividend be paid out of earnings for the financial year 2020.
Indeed, the group mentions a "high" level of remaining uncertainty due to the Covid-19 crisis.
Copyright (c) 2020 CercleFinance.com. All rights reserved.