EUROPE & CIS:DHL optimistic for 2010 as profit up
German mail and logistics company Deutsche Post DHL saw first quarter net profit rise 80 per cent to Ã¢â€šÂ¬1.7 billion compared to Ã¢â€šÂ¬944 million in the same quarter last year, thanks to a Ã¢â€šÂ¬1.4 billion one-off gain on the sale of its stake in the Postbank banking unit. Consolidated revenue climbed by 4.4 per cent […]
June 1, 2010
Ã¢â‚¬Å“Our first quarter results demonstrate clearly that we are well prepared for the future,Ã¢â‚¬™Ã¢â‚¬™ said CEO Frank Appel. Ã¢â‚¬Å“We have broadly improved our performance, but there is much more to accomplish.Ã¢â‚¬™Ã¢â‚¬™
Deutsche PostÃ¢â‚¬™s underlying earnings before interest and taxes, or EBIT, improved by 81.4 per cent to Ã¢â€šÂ¬566 million compared to Ã¢â€šÂ¬312 million in the first quarter of 2009. The company confirmed its guidance for the fiscal year, saying that EBIT is expected to come in at the Ã¢â‚¬Å“upper end of the forecast range of Ã¢â€šÂ¬1.6 billion to Ã¢â€šÂ¬1.9 billion,Ã¢â‚¬™Ã¢â‚¬™ as compared to Ã¢â€šÂ¬1.47 billion in 2009.Ã¢â‚¬Â The encouraging start to the new year confirms our fundamental optimism about 2010, CFO Larry Rosen said.
Ã¢â‚¬Å“In the future our goal is to achieve a stable result in the mail division and for DHL to become the driving force of growth in consolidated net profit,Ã¢â‚¬™Ã¢â‚¬™ Rosen said. Ã¢â‚¬Å“Even though we continue to face economic, political and regulatory uncertainties, we are increasingly optimistic about the future.Ã¢â‚¬Â