By Neetha Mahadevan
FRANKFURT--German postal and logistics group Deutsche Post AG
(DPW.XE) said Tuesday its second-quarter net profit increased 9%,
driven by growth in its Express division.
Net profit for the quarter ended June 30 reached 461 million
euros ($618.6 million) compared with EUR422 million a year ago,
helped by lower taxes. Revenue increased 1% to EUR13.7 billion.
Adjusted for exchange-rate effects and other factors, revenue rose
more than 4%, fueled by growth in all four of the company's
divisions.
Earnings before interest and taxes rose 6% to EUR654 million, as
weak performance of its global freight services division was more
than offset by a double-digit growth in Express division.
The company confirmed its overall outlook for 2014, although it
expects only slight improvement in the economic environment.
Deutsche Post still expects EBIT to rise to between EUR2.9 billion
and EUR3.1 billion in 2014. Deutsche Post expects its post,
eCommerce and parcel division to contribute an additional EUR100
million to earnings, but cut its outlook for DHL divisions due to
continued weakness in its global freight services division. It
expects operating earnings in the division to rise to between EUR2
billion and EUR2.2 billion, compared with a previous forecast of
EUR2.1 billion to EUR2.3 billion.
Write to Neetha Mahadevan at neetha.mahadevan@wsj.com
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