FRANKFURT--German mailing company Deutsche Post AG (DPW.XE) said
Wednesday its third-quarter net profit rose 17% from a year
earlier, boosted by growth in its domestic parcel business and
continued strength in its international express division.
Net profit for the quarter ended Sept. 30 reached 468 million
euros ($584.6 million) compared with EUR399 million a year ago,
helped by lower tax expenses and finance costs. Revenue increased
4.1% to EUR14 billion from EUR13.45 billion fueled by growth in all
four of the company's divisions in addition to slightly positive
exchange-rate effects.
"The group's higher revenues primarily reflected the further
improved volume and revenue development in the German parcel
business and continued strong gains in the international express
business," Deutsche Post said.
Earnings before interest and taxes, a figure closely watched by
analysts and investors, rose 4.8% to EUR677 million.
"We continue to profit from our unique competitive position in
emerging markets and our role as an e-commerce enabler. For this
reason, we remain on track in spite of the current challenging
environment," Chief Executive Frank Appel said.
The German postal and logistics group, which had been struggling
for years due to Internet-based alternatives for communication,
stuck to its overall outlook for 2014, although it still
anticipates "only slight improvement in the global economic
environment."
Deutsche Post still expects EBIT to rise to between EUR2.9
billion and EUR3.1 billion in 2014.
The group also stuck to its long-term growth targets.
Write to Neetha Mahadevan at Neetha.Mahadevan@wsj.com
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