MILAN, May 15 (Reuters) -

Operating profit at Poste Italiane fell 8% in the first quarter despite higher revenues at businesses that range from mail and parcel to payments and insurance, due to the sharp gains it pocketed a year ago by selling some Italian bonds.

Earnings before interest and tax came in at 706 million euros ($764 million) in the three months to the end of March, down from 767 million euros a year earlier but above a 692 million euro forecast in an analyst consensus compiled by the company.

Shares in the state-owned group, which Italy plans to privatise further, fell 0.4% at 1152 GMT, having hit a fresh record high at 12.765 euros earlier in the session.

Stripping out the impact of government bond trading, Poste reported a 14% rise in its operating profit, the company said, adding it was on track to meet financial targets set in March when it unveiled a new business plan.

"It's been a strong start to the year ... with all segments contributing and in line with our strategy," Chief Executive Matteo Dal Fante said.

Revenues rose by 0.7% to 3.05 billion euros in the period, broadly in line with an average analyst forecast of 3.03 billion.

Italy plans to sell all or part of its 29.3% direct stake in Poste, while retaining control through another 35% held by state bank Cassa Depositi e Prestiti (CDP).

The sale is part of Rome's plans to raise about 20 billion euros from asset sales between 2024 and 2026 to curb one of the world's highest public debt in relation to domestic output.

(Reporting by Elvira Pollina; Editing by Keith Weir and Valentina Za)