Deutsche Post DHL Group net profits have grown 3.7 per cent in the third quarter with the DHL Express division posting the strongest results.
Consolidated net profits were €641 million ($743 million) in the third quarter and revenue grew by 5.6 per cent to €14.6 billion.
Earnings before interest and tax (EBIT) for the group grew by 10.5 per cent to €755 million, with the Post – eCommerce – Parcel sector up 5.1 per cent to €293 million, and DHL as a whole increased by 9.3 per cent to €586 million.
Among the divisions of DHL, Express saw the most substantial growth, with EBIT up 10.4 per cent to €372 million due to the strength of its international network.
Global Forwarding benefitted from air and ocean freight volume growth, helping EBIT up 6.3 per cent to €67 million, and Supply Chain grew organically by eight per cent to €148 million.
Deutsche Post DHL Group chief executive officer, Frank Appel says: “We had a strong third quarter with record earnings yet again. All divisions of our company registered growth thanks to our strategic focus on rapidly expanding sectors such as international e-commerce. By investing in the future and developing groundbreaking innovations, we are continuously expanding our market-leading position.”
Net profits for the first nine months of 2017 rose by 4.3 per cent to €1.87 billion and revenue was up by 5.8 per cent to €44.3 billion.
Group EBIT was up 7.6 per cent to €2.38 billion, with €992 million coming from Post, which was growth of 3.8 per cent, while DHL’s EBIT rose by 7.4 per cent to €1.78 billion.
DHL Express EBIT increased by 11.4 per cent to €1.2 billion, Global Forwarding was down 4.9 per cent to €174 million and Supply Chain up by 1.4 per cent to €371 million.