PostalNetwork result

Thanks to network development and the consis­tent adaptation of resources to meet volume trends, combined with efficiency increases, PostalNetwork improved its operating result by 65 million francs, reducing the deficit to 94 million francs. How­ever, at 1,045 million francs, operating income was down by 57 million francs year-on-year. The decline in operating income can be attributed to another marked fall in over-the-counter transactions and letter volumes (–2 percent) and in payment transactions (–6 percent). Net revenue from resale merchandise in branches also declined by 36 million francs due to adjustments to the range.