Investing.com -- Shares in Bpost (EBR:BPOST) hit an all-time intraday low on Wednesday after the Belgian postal company unveiled an annual profit guidance that missed expectations.
The company said it now expects to deliver full-year group-wide adjusted earnings before interest and taxes of 165 million euros to 185 million euros. Analysts were projecting an outlook of 215.7 million euros, according to a company-compiled estimate.
In a statement, Chief Executive Chris Peeters said revenues in the firm's North American business remain "under pressure due to adverse market conditions."
"[W]e take the necessary measures to mitigate this through continued focus on productivity gains," Peeters added.
Bpost noted that it is making "every effort" as well to retain its current volumes as it negotiates distribution deals with press editors.
In its fiscal first quarter, Bpost, which also distributes newspapers, posted a 5.3% decline in operating income to 993 million euros.