Poste Italiane SpA Announces Consolidated Earnings Results for the Six Months Ended June 30, 2017; Provides Tax Rate Guidance for the Full Year 2017
Poste Italiane SpA announced consolidated earnings results for the six months ended June 30, 2017. Total revenue was EUR 18,029 million compared to EUR 17,682 million a year ago. Operating profit was EUR 847 million compared to EUR 843 million a year ago. Profit before tax was EUR 772 million compared to EUR 858 million a year ago. Profit attributable to owners of the Parent was EUR 510 million compared to EUR 565 million a year ago. Diluted earnings per share were EUR 0.391 compared to EUR 0.432 a year ago. Net cash flow from operating activities was EUR 480 million compared to net cash outflow from operating activities of EUR 292 million a year ago. Property, plant and equipment, investment property and intangible assets were EUR 183 million compared to EUR 151 million a year ago.
For the full year 2017, the company expects a normalized tax rate of around 30%.