March 9, 2017 / 5:00 PM / 4 months ago

BRIEF-Portugal CTT's profit, revenues drop, sees small revenue growth in 2017

1 Min Read

March 9 (Reuters) - CTT Correios de Portugal SA says in a statement:

* 2016 net profit falls 13.7 percent to 62.2 million euros ($65.77 million)

* Reported 2016 EBITDA falls 24 percent to 102 million euros

* Recurring EBITDA falls 17 percent to 119.6 million euros

* Reported operating revenues drop 4 percent to 697 mln euros

* Analysts surveyed by Reuters expected, on average, a net profit or 61 million euros and recurring EBITDA of 123 million euros

* CTT expects small growth in revenues in 2017 even as decline in addressed mail volumes seen at 4-5 percent

* Expects flat recurring EBITDA, excluding its deal with Altice

* Sees revenues at its postal bank Banco CTT in high single-digit millions of euros, CTT to account for 10 pct of capex. Source text for Eikon: here Further company coverage: (Reporting by Andrei Khalip)

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