February 19, 2018 / 4:58 PM / in 4 months

Poste Italiane reports 11 pct rise in 2017 net profit

MILAN, Feb 19 (Reuters) - Italy’s Poste Italiane said on Monday net profit rose nearly 11 percent last year to 689 million euros, just above analyst expectations.

The state-controlled behemoth, which makes the bulk of its profit from selling insurance services, said an increase in premiums supported sales last year.

In 2017 - a year of transition for the group - revenue came in at 33.4 billion euros, up 1 percent year-on-year.

The group, which is due to present its new business plan on Feb. 27, said it will pay a dividend of 0.42 euros per shares on the results. (Reporting by Francesca Landini, editing by Giulia Segreti)

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