Deutsche Post Profit Lifted by Stamp Prices, Parcels
August 03 2016 - 2:04AM
Dow Jones News
By Friedrich Geiger
BERLIN--Deutsche Post AG (DPW.XE) said Wednesday that its profit
rose strongly despite declining revenue in the second quarter,
helped by higher stamp prices, additional working days and rising
parcel volume, and that it has agreed to sell its long-distance bus
service.
Net profit rose 56% to 541 million euros ($606.54 million) in
the April-to-June quarter, beating analysts' EUR499 million
consensus estimate. The increase was in part due to strike-related
costs that had weighed on earnings in the second quarter a year
ago, when net profit was EUR326 million. Second-quarter revenue
declined 3.5% to EUR14.19 billion, in part due to currency effects
and lower fuel surcharges.
Deutsche Post said it sells its long-distance bus service in
Germany to FlixMobility GmbH, which offers travel service under the
Flixbus brand, for an undisclosed price. Postbus did not live up to
Deutsche Post's expectations in terms of profitability, said the
company.
Europe's largest mailing and logistics company confirmed its
full-year guidance for an operating profit between EUR3.4 billion
and EUR3.7 billion.
-Write to Friedrich Geiger at friedrich.geiger@wsj.com
(END) Dow Jones Newswires
August 03, 2016 01:49 ET (05:49 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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