Portugal's postal service CTT falls on FY EBIT outlook change
30/07/2024 09:23
** Shares of Portugal's postal service operator CTT CTT.LS
fall 8% after the company lowered its 2024 recurring EBIT
guidance due to the expected decline in the placement of public
debt
** CTT now sees 2024 recurring EBIT between 80-90 million
euros, vs 88 million euros previously
** "If public debt placement levels remain under pressure,
recurring EBIT from Financial Services should be around 10
million euros instead of the normal level of 20 million euros"
the company says
** The company posts a 24% drop in first half net profit to
19.8 million euros, from the same period a year ago
** Share on track for its worst day since November 2021, and
bottom of Lisbon's PSI index .PSI20
(Reporting by Joao Manuel Mauricio)
((JoaoManuel.VicenteMauricio@thomsonrueters.com))