|Bid||11.18 x 0|
|Ask||11.24 x 0|
|Day's range||11.11 - 11.23|
|52-week range||6.92 - 12.18|
|Beta (5Y monthly)||1.04|
|PE ratio (TTM)||10.83|
|Earnings date||03 Aug 2021|
|Forward dividend & yield||0.49 (4.37%)|
|Ex-dividend date||21 Jun 2021|
|1y target est||7.97|
MILANO (Reuters) -Italian postal service operator Poste Italiane on Wednesday reported a higher than expected 41% rise in first-quarter operating profit, boosted by its insurance division and higher parcel revenue. The group, which includes insurance and financial divisions, the traditional mail and parcel business and a digital payments unit, reported revenue of 2.93 billion euros in the quarter, up from 2.67 billion euros a year earlier. "The results are particularly positive, especially bearing in mind that, throughout the quarter, several Italian regions have been under partial lockdown," Poste Chief Executive Matteo Del Fante said.
Poste Italiane expects its operating profit to rise to 2.2 billion euros ($2.63 billion) by 2024, from 1.5 billion euros last year, helped by cost cuts and increased revenue. In its 2019-2024 business plan announced on Friday, the state-controlled conglomerate - which comprises financial operations including insurance and digital payments as well as its traditional mail and parcels business - projected net profit of 1.6 billion euros in 2024, against to 1.2 billion euros last year. Its 2024 revenue target is 12.7 billion euros, compared with last year's 10.5 billion euros.
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