Deutsche Post Shares Climb as It Signals Full-Year Upgrade

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By Ed Frankl
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Shares of DHL owner Deutsche Post AG jumped in afternoon trading after the company said it expected to raise its full-year profit forecast when it released its full third-quarter figures on the back of higher earnings in November. does.

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At 1420 GMT, shares were up 5.6% at EUR32.58.

The German postal operator and logistics company said it benefited from a recovery in e-commerce volumes in its business-to-consumer business after a decline in the first half of the year, and reduced capacity issues in the sea and air freight markets Is. ,

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In preliminary earnings, third-quarter operating profit rose 15% to about 2.04 billion euros ($1.99 billion), Deutsche Post said.

For the year to date, operating profit was approximately EUR6.5 billion, with Deutsche Post currently targeting EUR8 billion, plus or minus 5% for the full year.

Citi analysts said in a research note that third-quarter results beat consensus by €1.93 billion, mainly due to higher-than-expected earnings in its express division.

Write to Ed Frankl at [email protected]

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