Deutsche Post’s 2nd quarter profit up 13%

Deutsche PostÆs 2nd quarter profit up 13%    German mail, express and logistics group Deutsche Post World Net reported a net income of 285 million euros ($391 million) in the second quarter, up 13.1 percent compared to 252 million euros in the same period last year.
   Quarterly operating profit improved 9.5 percent to 703 million euros ($964 million), up from 642 million euros in the second quarter 2006. Revenue improved 6.5 percent to 15.4 billion euros ($21.1 billion), against 14.5 billion euros.
   Second quarter operating income at the logistics division — DHL Exel Supply Chain and DHL Global Forwarding — rose 20.5 percent to 200 million euros ($274 million) with revenue up 7.4 percent to 6.3 billion euros ($8.6 billion).
   Deutsche Post’s quarterly mail operating profit improved 3.4 percent to 331 million euros ($454 million), despite a revenue slip of 0.4 percent to 3.6 billion euros ($4.9 billion). Operating profit for the express division increased 28.2 percent to 99 million euros ($136 million) on a turnover gain of 3 percent to 3.4 billion euros ($4.7 billion).
   For the first half, Deutsche Post posted net income of 784 million euros ($1.07 billion), up 7.1 percent compared to 732 million euros after six months last year. Operating income was up 9 percent to 1.7 billion euros ($2.3 billion) while revenue improved 5.4 percent to 30.9 billion euros ($42.3 billion).
   Looking ahead, Deutsche Post said it expects operating income of at least 3.6 billion euros for the full year.