Deutsche Post 4Q Revenue EUR15.34 Billion

  By William Wilkes

FRANKFURT -- Deutsche Post AG's (DPW.XE) fourth-quarter net profit rose due to strong performance in its PeP division, which includes post, e-commerce and parcel services, the German mailing and logistics company said Wednesday.

Consolidated net profit rose 4.7% to 670 million euros ($702.65 million) from EUR640 million a year earlier, due in part to a strong December holiday performance in the PeP division. Quarterly earnings before interest and taxes rose 5.7% to EUR957 million from EUR904 million. Revenue slipped 0.2% to EUR15.34 billion, due in part to a contractual change with a customer in the supply chain division. Analysts expected revenue of EUR15.85 billion.

The group proposed an unchanged dividend of EUR0.85 per share.

The company's shares jumped Tuesday after it announced it would buy back up to EUR1 billion of its own stock. Deutsche Post said the repurchased shares would either be cancelled or used to meet other obligations.

Write to William Wilkes at William.Wilkes@dowjones.com

(END) Dow Jones Newswires

March 09, 2016 01:48 ET (06:48 GMT)

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