Drop in turnover and profit for Swiss Post
Swiss Post reported an H1/2013 operating income (turnover) of CHF 4.261 billion, a slight decrease of nearly 1% compared to the same period in 2012. In contrast, earnings before interest and tax vaulted by 29% to CHF 556 million. Group profit in the first half dropped by 13% to CHF 359 million. Switzerland’s mail service provider said that the decline in profit was due to the group’s result being fully subject to taxation for the first time following its conversion to a joint stock company (AG). The new legal form of Swiss Post was introduced at the end of June with retroactive effect from the beginning of 2013.