PostNL: in demand after quarterly results
(CercleFinance.com) - The PostNL share is up 8% in Amsterdam on Monday, in demand after the publication of normalised operating profit that is up 38% to 54 million euros for Q2 2020, with free cash flow of 93 million euros, compared with just seven million euros a year ago.
The Dutch postal operator's revenues increased by nearly 16% to 789 million euros, driven by growth in parcel volumes while mail volumes declined further due to the Covid-19 pandemic.
For FY 2020, PostNL now anticipates normalised operating profit that is well above its initial target range of 110-130 million euros, as well as a strong improvement in free cash flow.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The Dutch postal operator's revenues increased by nearly 16% to 789 million euros, driven by growth in parcel volumes while mail volumes declined further due to the Covid-19 pandemic.
For FY 2020, PostNL now anticipates normalised operating profit that is well above its initial target range of 110-130 million euros, as well as a strong improvement in free cash flow.
Copyright (c) 2020 CercleFinance.com. All rights reserved.