[Stay on top of transportation news: Get TTNews in your inbox.]
Deutsche Post’s First-Quarter Profit Improves
Deutsche Post, the Germany-based parent company of DHL Express, said Wednesday its first-quarter quarter profit jumped despite lower revenue, the Associated Press reported.
Its profit for rose to about $1.26 billion, from $1.1 billion a year ago, while sales fell 13% to $15.9 billion.
Deutsche Post’s freight division’s sales fell 18% to $3.6 billion from a year ago.
DHL said late last year it would end its U.S. domestic services and focus on its international shipping business.UPS Inc. said last month it was ending a proposed deal where it would carry DHL’s domestic airfreight, a deal which would have added about $1 billion in annual revenue to UPS’ bottom line. (Click here for previous coverage.)
DHL Americas is ranked No. 3 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
