DHL boosts sales at parent Deutsche Post

Germany's Deutsche Post boosted sales in the first quarter as growing demand in Asia and the United States lifted volumes at its DHL express delivery and freight business, reported Associated Press Newswires.


Deutsche Post net profit fell, however, because of a US$2.02 billion gain in the year-ago quarter related to the sale of its Postbank subsidiary to Deutsche Bank.


Net profit dropped to $467.9 million from $2.52 billion a year ago. Without the one-time Postbank sale, net profit rose 27 percent.


Revenue rose 6.9 percent to $18.49 billion, as the company enjoyed increased parcel and freight volumes and as it moved past restructuring costs from previous quarters. The company had no restructuring costs in the first quarter, compared to $77.74 million a year ago.


DHL increased its contribution to earnings by two-thirds, to 522.6 million from $315.29 million, as its express mail business saw double-digit percentage increases in the Americas and Asia-Pacific regions. Revenues at the traditional mail-carrying business were flat at $5.04 billion.
(Source:http://www.cargonewsasia.com)