Deutsche Post Shares Climb as It Signals Full-Year Upgrade
October 10 2022 - 11:00AM
Dow Jones News
By Ed Frankl
Shares in DHL owner Deutsche Post AG jumped in afternoon
trading, after the company said it expects to raise its full-year
profit forecast when it releases its full third-quarter figures in
November on the back of higher earnings.
At 1420 GMT, shares were up 5.6% to EUR32.58.
The German postal operator and logistics company said it
benefited from a recovery in e-commerce volumes in its
business-to-consumer business, after a decline in the first half of
the year, and that capacity issues in ocean and air freight markets
has eased.
In preliminary earnings, third-quarter operating profit rose by
15% to around 2.04 billion euros ($1.99 billion), Deutsche Post
said.
For the year to date, operating profit was around EUR6.5
billion, with Deutsche Post currently targeting EUR8 billion for
the full year, plus or minus 5%.
The third-quarter result beat consensus of EUR1.93 billion,
mainly due higher-than-expected earnings at its express division,
Citi analysts said in a research note.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
October 10, 2022 10:45 ET (14:45 GMT)
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