Deutsche Post DHL profit up

Deutsche Post DHL profit up

   Deutsche Post DHL, the world's largest logistics group, said it had second quarter consolidated net profit of 81 million euros (about $106 million), 22.7 percent more than in the same 2009 period.

   Revenue in the quarter was 12.8 billion euros ($16.8 billion), up 15.6 percent from the same 2009 period.

   The company said it had success acquiring business with new customers. There was a “marked rise in transport volume being fueled by the continuing economic recovery,” and favorable currency effects in all DHL divisions.

   The company reported second quarter results by division compared to the same 2009 period as follows:

   ' Mail revenue was flat at 3.2 billion euro ($4.2 billion).

   ' Express revenue improved 19 percent to 2.9 billion euro ($3.8 billion).

   ' Global forwarding and freight revenue rose 35.6 percent to 3.6 billion euros ($4.7 billion), benefiting from rising volumes observed since the second half of 2009. “Particularly in air freight, but also in ocean freight, transport volumes climbed sharply,” the company added.

   ' Supply chain revenue rose 10.7 percent to 3.4 billion euros ($4.5 billion. “New business wins and an increase in volume among contracts with existing customers produced strong growth, particularly in the Asia-Pacific region,” the company said.

   For the entire year of 2010, the group continues to expect a moderate recovery in global transport volumes.