Deutsche Post profit triples in 4th quarter

Deutsche Post DHL profit triples in 4th quarter; further growth seen in 2013

Associated Press

BERLIN (AP) -- Fourth-quarter earnings at mail and express delivery company Deutsche Post DHL tripled compared with figures a year earlier that were hit by one-time effects from the company's sale of the Postbank business.

Deutsche Post DHL on Tuesday reported net profit of €542 million ($705 million) for October-December, up from €175 million the previous year. Revenue was up 3.2 percent to €14.58 billion from €14.13 billion.

The company says operating earnings grew by a quarter at the DHL express division and by more than half at its mail operation, which it says benefited from strong internet-generated parcel business among other things.

Full-year net profit increased 42.6 percent to €1.66 billion from €1.16 billion on revenue that grew 5 percent. The company says it expects profit to grow further in 2013.

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