Arab Today, arab today deutsche post lifts earnings forecast for 2012
Last Updated : GMT 12:02:44
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Arab Today, arab today

Deutsche Post lifts earnings forecast for 2012

Arab Today, arab today

Arab Today, arab today Deutsche Post lifts earnings forecast for 2012

Frankfurt - AFP

German postal giant Deutsche Post said Thursday it had slightly raised its full-year forecast for operating profit which it expects to be partly driven by its DHL express delivery division. For the year, the group now forecasts earnings before interest and tax (EBIT) of 2.6-2.7 billion euros ($3.2-3.3 billion) from its previous 2.5-2.6 billion euro outlook, it said. The company said net profit in the second quarter fell by 27.7 percent compared to a year earlier, to 201 million euros, impacted by an exceptional charge of 260 million euros due to a retroactive VAT payment. However, the result was still better than analysts\' forecasts. Revenue in the period from April to June came to 13.7 billion euros -- a rise of 7.3 percent above the previous year\'s level -- largely due to its DHL divisions, especially in Asia, it said in a written statement. It added that for the second half of 2012 it expected that \"the world economy will grow moderately and that the company, driven by the DHL divisions, will continue to boost revenues and earnings compared with the previous year\".

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