November 6, 2019 / 6:35 AM / a month ago

Poste Italiane reports flat operating profit in Q3

MILAN, Nov 6 (Reuters) - Italy’s postal service provider said on Wednesday its third-quarter operating profit was almost flat year-on-year due to a lacklustre performance of its mail and parcel business.

Operating profit, or earnings before interest and taxes (EBIT), came in at 459 million euros between July and September, up 0.8% compared with the same period last year. The EBIT was above an analyst estimate of 431 million in a poll published by the company.

Poste Italiane approved a 2019 interim dividend of 0.154, a third of the expected total dividend of 0.463 euros to be paid on results for this year.

The state-controlled group — which comprises of an insurance and a financial division, the traditional mail and parcel business and a digital payments unit — said it was on track to meet its 2019 goals. (Reporting by Francesca Landini, editing by Giulia Segreti)

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