FRANKFURT, Germany (AP) ? Mail, freight and express delivery company Deutsche Post DHL says net profit fell 28 percent in the second quarter as the company increased sales but had to make a large tax payment.
Net profit fell to ?201 million ($247.19 million) from ?278 million in the same quarter a year before.
Revenues rose 7 percent to ?13.7 billion and the company said it as well-positioned in the rapidly growing regions of the world, particularly Asia. It raised its earnings guidance for the year.
The company said Thursday that its express mail business increased operating earnings by more than 50 percent on sales increases in Asia and strong business in the United States.
A decline in its traditional mail business was being offset by increased parcel revenue due to growing online retailing.
Source: http://news.yahoo.com/deutsche-post-dhl-earns-fall-vat-payment-070111060--finance.html
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