Swiss Post delivers record result

Swiss Post generated a group profit of SFr910 million ($995 million) in 2010, up 25 per cent on the previous year – the best result in its history.

This content was published on March 31, 2011 - 14:10 and agencies

The company said the “excellent set of results” were driven by all its market sectors, but that financial services arm PostFinance had performed particularly well.

“Key factors contributing to the improvement in earnings included the increase in customer deposits, optimisation measures and higher parcel volumes,” Swiss Post said in a statement on Thursday.

At SFr571 million, PostFinance made the largest contribution to the group result. But this is causing concern for CEO Jürg Bucher. He told a media conference that Swiss Post was first and foremost a communications and logistics company, not a bank and that there needed to be some correction.

Reacting to the results of the government-owned company, the Swiss business federation economiesuisse called for the postal market to be opened up. In future, profit could be shared not only among Swiss Post, but also among its customers, it said.

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