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)

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