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Deutsche Post hikes targets again as trade rebounds -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A package is seen at DHL Express, a hub for German postal and logistic group Deutsche Post DHL, located at Roissy Charles De Gaulle, Tremblay-en-France, France. This was October 5, 2021. REUTERS/Sarah Meyssonnier

BERLIN, (Reuters) – Deutsche Post, a German logistics company (OTC:), increased its forecast for short- to medium-term profits again Thursday. This was due to global trade recovering and pandemic-driven ecommerce shipments stabilising at a high level.

Deutsche Post raised its operating profit projections for 2021 to 7.7 Billion Euros ($8.92 Billio) from an earlier target of over 7 billion. The forecasts for 2023 were increased to 8 billion Euros from 7.4 billion.

Deutsche Post, one the largest logistics companies in the world, already indicated that it was looking to improve its outlook last month when it released preliminary results for third quarter.

It was confirmed on Thursday that quarterly earnings before interest taxes (EBIT), rose 29%, reaching 1.8 billion euro, while revenue increased 24% to 20. billion euro.

Deutsche Post DHL Group is optimistic about its future: the strength of global trade will return to old levels. Frank Appel, Chief Executive of Deutsche Post DHL Group stated in a statement that online shopping has maintained its higher levels.

($1 = 0.8633 euros)

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