PostNL meets FY targets, sees further gains in 2014

Mon Feb 24, 2014 1:55am EST


AMSTERDAM Feb 24 (Reuters) - Dutch mail group PostNL met its full-year profit target, lifted by cost cuts and tariff increases, and said it aimed for a significant increase in underlying profit this year.

Underlying cash operating income rose 9 percent to 141 million euros ($193.8 million) in 2013 on flat revenue of 4.31 billion euros.

PostNL raised its full-year outlook in November, saying it expected underlying cash operating income in 2013 of 130-160 million euros as it was ahead of schedule with its cost savings and reorganisation.

"In 2014 we aim to achieve underlying cash operating income of 180-220 million, which is another important step towards our updated 2015 targets," Chief Executive Herna Verhagen said in a statement, adding it aimed to restore a cash dividend in 2016. ($1 = 0.7275 euros) (Reporting by Sara Webb; Editing by Catherine Evans)