Canada Markets closed
  • S&P/TSX

    20,621.39
    -436.81 (-2.07%)
     
  • S&P 500

    4,397.94
    -84.79 (-1.89%)
     
  • DOW

    34,265.37
    -450.03 (-1.30%)
     
  • CAD/USD

    0.7947
    -0.0052 (-0.6517%)
     
  • CRUDE OIL

    84.83
    -0.72 (-0.84%)
     
  • BTC-CAD

    44,379.93
    +13.45 (+0.03%)
     
  • CMC Crypto 200

    870.86
    +628.18 (+258.85%)
     
  • GOLD FUTURES

    1,836.10
    -6.50 (-0.35%)
     
  • RUSSELL 2000

    1,987.92
    -36.12 (-1.78%)
     
  • 10-Yr Bond

    1.7470
    -0.0860 (-4.69%)
     
  • NASDAQ

    13,768.92
    -385.08 (-2.72%)
     
  • VOLATILITY

    28.85
    +3.26 (+12.74%)
     
  • FTSE

    7,494.13
    -90.88 (-1.20%)
     
  • NIKKEI 225

    27,522.26
    -250.64 (-0.90%)
     
  • CAD/EUR

    0.7001
    -0.0066 (-0.93%)
     

Deutsche Post hikes targets again as trade rebounds

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
A DHL delivery package is seen in the new DHL Express hub near Paris
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • DPW.DE

BERLIN (Reuters) -German logistics company Deutsche Post DHL increased its forecast again on Thursday for short- and medium-term profits as global trade recovered and pandemic-driven e-commerce shipments stabilised at a high level as stores reopened.

Deutsche Post increased its forecast for 2021 operating profit to more than 7.7 billion euros ($8.92 billion) from a previous target of more than 7 billion, and for 2023 to more than 8 billion euros from more than 7.4 billion.

Deutsche Post, one of the world's biggest logistics companies, had already flagged that it would increase its outlook when it published preliminary third-quarter results last month.

On Thursday, it confirmed that quarterly earnings before interest and taxes (EBIT) jumped 29% to 1.8 billion euros, while revenue rose 24% to 20 billion euros.

"The prospects for Deutsche Post DHL Group's future development remain positive: global trade returns to its old strength. Online shopping is maintaining its new higher level," Chief Executive Frank Appel said in a statement.

($1 = 0.8633 euros)

(Reporting by Emma ThomassonEditing by Riham Alkousaa and Maria Sheahan)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting