By Sarah Sloat
FRANKFURT-German mail and logistics company Deutsche Post AG
said Tuesday its net profit declined 1.4% in the first quarter
partly due to restructuring costs in its freight and supply chain
divisions.
In the three months, net profit fell to 495 million euros ($552
million) from EUR502 million a year earlier. Revenue increased 8.8%
to EUR14.8 billion, helped by favorable exchange rates. Stripping
out currency effects, organic revenue growth was 2.1%.
"We are significantly investing to ensure that our four
divisions are optimally positioned, even though this is having a
temporary impact on our performance," Chief Executive Frank Appel
said.
Deutsche Post, best known internationally for its DHL delivery
service, confirmed its outlook for the full year. The logistics
company expects earnings before interest and taxes of between
EUR3.05 billion and EUR3.2 billion. That should increase in 2016 to
between EUR3.4 billion and EUR3.7 billion.
Write to Sarah Sloat at sarah.sloat@wsj.com
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