Portugal's postal service CTT rises after FY net profit jumps 62%

CTT - Correios de Portugal SA

20/03/2024 10:25

(Repeats to widen distribution, no changes to headline and
text)
    ** Shares of CTT  CTT.LS  rise 8.6% , on track for their
best day in over 2 years after reporting a 62% year-on-year
increase in 2023 net profit to 60.5 million euros
    ** "(2023) Recurring EBIT reached 87.6 million euros in
2023, up 35.7% year-on-year, even higher than the guidance,
which was twice revised upwards throughout the year," the
company said
    ** The Portuguese postal services provider also forecast its
2024 recurring EBIT to be above 88 million euros on the back of
strong growth in Iberian Express & Parcels
    ** Shares outperform the PSI index  .PSI20 , which rises
0.4% 
    ** Including Wednesday's rise, the stock has gained 10.17%
this year

 (Reporting by Joao Manuel Mauricio in Gdansk)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))