Driven by the acquisition of a new subsidiary, growth in domestic and international parcel volumes, increased uptake of banking services and the sale of unused real estate, CTT reported 2.5% growth in total revenue in 2017. Operating profitability fell in the year, in part due to integration costs following its acquisition of Transporta in May, as well as declining revenue from the mail division. CTT launched an operational transformation plan in late 2017, through which it expects to generate €45m in annual cost savings from 2020. For more details, download the IPC Carrier Intelligence Report for CTT Portugal Post.
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