Deutsche Post 2Q Net Profit Fell 11%
06 August 2019 - 07:50AM
Dow Jones News
By Pietro Lombardi
Deutsche Post AG (DPW.XE) said Tuesday that second-quarter net
profit fell 11% and it backed its guidance for 2020 while slightly
raising the lower end of the outlook for this year.
Net profit for the period was 458 million euros ($511.4 million)
from EUR516 million a year earlier, the German postal company
said.
Revenue grew 3% to EUR15.48 billion.
Earnings before interest and taxes rose 2.9%, it said.
The company confirmed its outlook for 2020 and increased
slightly the lower end of the 2019 outlook. It now expects
operating profit of between EUR4 billion and EUR4.3 billion this
year, compared with a previous lower end of EUR3.9 billion.
"We expect earnings to further improve in the second half of the
year--despite the challenging macroeconomic environment," Chief
Executive Frank Appel said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
August 06, 2019 01:35 ET (05:35 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.