Deutsche Post sees 2-bln-euro operating profit in 2010

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German logistics giant Deutsche Post said Monday it expected an operating profit of two billion euros (2.59 billion dollars) in 2010, in line with company targets.

The company, which owns express delivery firm DHL, expects operating profit for the year at 1.1-1.2 billion euros in the mail division and 1.3 billion euros in the logistics division, chief financial officer Lawrence Rosen was quoted as saying by Dow Jones Newswires.

Deutsche Post said in November that operating profit totaled 1.6 billion euros in the first nine months of the financial year, up 70 percent year-on-year.

Due to a resumption of international trade and freight business in late 2010, Deutsche Post said it banked a higher net profit in 2010 compared to the previous year, when it made 644 million euros.

In late November the group said operating profit in its DHL business is expected to grow 13-15 percent annually on average until 2015, but earnings in its mail division were expected to stabilise at about one billion euros from 2010.

© 2011 AFP

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