La Poste has reported an operating revenue of €12,246m for the first half (H1) of 2018, which was an increase of 2.9% on last year.

Operating profit was up by 5.9% at €806m.

In a statement issued yesterday (1 August), La Poste that “activities… on the whole have remained strong”.

The core “Services-Mail-Parcels” business unit achieved a revenue of €5,708m, which was down about 0.9% on last year, and operating profit was down by 25.8% to €376m.

As one would expect, La Poste said that the “Services-Mail-Parcels” performance was “affected by the lasting impact of the streamlining and digitisation of traditional mail, with a decrease in addressed mail volumes of 7.0%”

Revenue for Parcels was up 3.4% at €858m. La Poste attributed this to the “increased volumes of packages (+4.4%9) which totalled 154 million items (essentially domestic B2C flows)” and a “significant increase in “out-of-home” deliveries (+45.7%)”.

The GeoPost business unit saw a 8.3% jump in revenue to €3,527m. According to La Poste: “The 7.5%11 growth in parcels delivered amounting to 631m items (impact amounting to an increase of €263m, mix included) explains to a large extent this increase.” However, GeoPost’s profits were down 5.8% to €186m.

La Banque Postale saw its revenue drop 4.2% to €2,926m but its operating profit was up 29.9% at €546m. La Poste attributed this to an “increase in NBI along with relatively stable operating expenses”.

Looking ahead for 2018 as a whole, La Poste said it was anticipating “a moderate increase in operating revenue and a relatively stable operating profit”.

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