News Content
Deutsche Post quarterly profit up 40pc while revenue slips 3.5pc
DHL OWNER Deutsche Post's second quarter operating profit increased 40 per cent year on year to EUR752 million (US$843 million), drawn on revenues of EUR14.2 billion, which fell 3.5 per cent.
Gains were driven by rising parcel deliveries for online retailers and an increase in German postage rates for standard letters, Bonn-based Deutsche Post said.
Deutsche Post expects e-commerce will more than compensate for weakening letter volumes, which it says will fall by as much as three per cent a year.
"We expect momentum in the third quarter to remain strong," helped by the express division, and the company may meet 2017 earnings estimates a year early, analysts at J&E Davy wrote.
"The boom in online retail continues unabated," said chief financial officer Larry Rosen.
"This particularly applies in Germany. We are becoming increasingly successful in converting volume growth into an above-average rise in earnings."
Gains were driven by rising parcel deliveries for online retailers and an increase in German postage rates for standard letters, Bonn-based Deutsche Post said.
Deutsche Post expects e-commerce will more than compensate for weakening letter volumes, which it says will fall by as much as three per cent a year.
"We expect momentum in the third quarter to remain strong," helped by the express division, and the company may meet 2017 earnings estimates a year early, analysts at J&E Davy wrote.
"The boom in online retail continues unabated," said chief financial officer Larry Rosen.
"This particularly applies in Germany. We are becoming increasingly successful in converting volume growth into an above-average rise in earnings."
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
