Deutsche Post's Net Income Falls, Operating Profit Rises

Germany's Deutsche Post AG said yesterday that its net income fell 5 percent in the first half of its fiscal year but its operating profit and sales rose.

The partially privatized post office said its profit was 1.05 billion euros ($960 million) in the first half, down from 1.1 billion euros a year ago. Klaus Zumwinkel, chairman of the company's board of management, said the drop resulted largely from scheduled tax charges.

Operating profit was up 5.5 percent at 1.41 billion euros ($1.29 billion), compared with 1.34 billion euros last year. The results were in line with analysts' expectations.

Deutsche Post's mail division accounted for the vast majority of operating profit, 1.15 billion euros ($1.05 billion).

Zumwinkel said that for the second half of the year, "we intend to achieve at least the same increase in profits as in the first half."

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions