Deutsche Post says profits up in Q3

12th November 2014, Comments 0 comments

German postal and logistics giant Deutsche Post said Wednesday that it is sticking to its full-year targets after both sales and profits rose in the third quarter.

Deutsche Post said in a statement that its bottom-line net profit jumped by 17.

3 percent to 468 million euros ($584 million) in the period from July to September.

Underlying or operating profit rose by 4.

8 percent to 677 million euros on a 4.

1-percent increase in sales to 14 billion euros, the statement said.

"We continued to generate profitable growth in the third quarter of 2014," sid chief executive Frank Appel.

The 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," he said.

Looking ahead, Deutsche Post said it confirmed its full-year targets "following the company's good performance during the first three quarters.

"Underlying profit was projected to climb to 2.

9-3.

1 billion euros in 2014 and "the growth in earnings will continue beyond the current year," it said.

spm/hmn.


© 2014 AFP

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