FRANKFURT--German logistics and mailing company Deutsche Post AG
(DPW.XE) Tuesday raised its full-year guidance after profit rose in
the second quarter, helped by the reversal of a provision.
The management now sees full-year earnings before interest and
tax at 2.75 billion euros to 3.0 billion euros ($3.65 billion to
3.98 billion), up from its earlier prediction of EUR2.7 billion to
EUR2.95 billion after reversing a EUR50 million provision at its
mail business unit.
In the April-to-June period, net profit rose to EUR422 million
from EUR196 million a year earlier, when it had been depressed by
tax-related one-offs. Revenue, however, declined 0.6% to EUR13.65
billion due to negative exchange rate effects.
Write to Friedrich Geiger at friedrich.geiger@dowjones.com
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