March 14, 2018 / 8:53 AM / 3 months ago

Weak 2018 outlook sends Bpost shares tumbling

BRUSSELS, March 14 (Reuters) - Belgian postal company Bpost’s shares plunged 19 percent on Wednesday after its profit guidance for 2018 fell short of analysts’ forecasts.

Bpost said late on Tuesday that it expected core profit (EBITDA) of between 560 million and 600 million euros ($693 mln-$742 mln) in 2018, following 598 million euros in 2017.

The forecast for this year was well short of a Thomson Reuters estimate by analysts for EBITDA of 637 million euros.

Analysts at KBC Securities said the shortfall was explained by a disappointing contribution from new acquisitions, such as U.S. e-commerce logistics group Radial.

Bpost listed in 2013 at 14.50 euros per share. Its shares had rallied by a third since last July but were trading at 22.70 euros after Wednesday’s slide. ($1 = 0.8087 euros) (Reporting by Robert-Jan Bartunek; Editing by Susan Fenton)

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