bpost rises on distribution agreement with Flemish newspaper publishers

Bpost SA

26/04/2024 09:09

** Shares in bpost  BPOST.BR  rise almost 3% after the group
signed a newspapers delivery agreement with Flemish newspaper
publishers
    ** The Belgium's postal service provider says the agreement
will start on July 1 for distribution of periodicals
    ** The agreement covers around 75% of current volumes
delivered by the company and will safeguard the jobs on
open-ended contracts with Flanders, bpost says
    ** "We think the 75% retention of current volumes in
Flanders is a good outcome that should have limited impact on
the results", KBC Securities says in a note, reiterating its
"buy" rating
    ** bpost highlighted the agreement would prevent a "social
shock" as well as "achieve a soft transition" to a new
distribution model as of 2025​​

 (Reporting by Stéphanie Hamel)
 ((stephanie.hamel@thomsonreuters.com))