Deutsche Post Reports Profit Dip in Preliminary ’06 Statement
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Deutsche Post AG, parent of DHL Americas, reported a 14% drop in its 2006 profit after it reduced its stake in the Deutsche Postbank financial-services unit, Bloomberg reported Thursday.
The preliminary earnings statement will be followed by a full report on March 20, Bloomberg reported.Net income for the year fell to 1.92 billion euros (about $2.5 billion) or $2.10 a share, from $2.94 billion or $2.61 a year earlier, the Bonn, Germany-based company said.Deutsche Post in late 2005 completed purchase of U.K.-based Exel PLC for about $7 billion, and integrating that company into its operations will take about three years, executives said last year. (Click here for previous coverage.)DHL Americas is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
Deutsche Post AG, parent of DHL Americas, reported a 14% drop in its 2006 profit after it reduced its stake in the Deutsche Postbank financial-services unit, Bloomberg reported Thursday.
The preliminary earnings statement will be followed by a full report on March 20, Bloomberg reported.Net income for the year fell to 1.92 billion euros (about $2.5 billion) or $2.10 a share, from $2.94 billion or $2.61 a year earlier, the Bonn, Germany-based company said.Deutsche Post in late 2005 completed purchase of U.K.-based Exel PLC for about $7 billion, and integrating that company into its operations will take about three years, executives said last year. (Click here for previous coverage.)DHL Americas is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
