Swiss Post has reported a 16 per cent drop in first-half net profit for 2009 to SFr358 million ($337 million).
The global economic and financial crisis and increasing wage costs were blamed for the figures, which are expected to stay in the red for the entire year.
EBIT (earnings before interest and tax) was down 12.9 per cent to SFr365 million, and turnover fell by 2.3 per cent to SFr4.275 billion.
The number of full-time staff, on the other hand, rose by 2.8 per cent to 44,537.
In 2008 Swiss Post reported a full-year profit of SFr825 million, nine per cent below the record year of 2007.
swissinfo.ch and agencies
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