Swiss Post reports adjusted profit down 19%

Swiss Post has announced its financial results for 2013 with group profit adjusted to take account of one-off items of CHF626 million (US$716 million), a year-on-year drop of 19 per cent.


Swiss Post reports adjusted profit down 19%


Swiss Post has announced its financial results for 2013 with group profit adjusted to take account of one-off items of CHF626 million (US$716 million), a year-on-year drop of 19 per cent. Swiss Post also recorded 2013 EBIT of CHF911 million, which represented an increase of nearly six per cent over the prior year.

The decline in profits was attributed to Swiss Post being fully taxed for the first time as a result of the legal structure brought about by its conversion to a public limited company. The rise in EBIT was largely the result of cost management, which produced a reduction in operating expenses. In the logistics market, PostLogistics reported EBIT of CHF133 million, an increase of 12 per cent over the prior year.