German mail, express and logistics giant Deutsche Post World Net reported a net income of EUR537 million (US$691 million) in the third quarter, up 30.3 per cent compared to EUR412 million euros in the same period 2005.Third quarter operating profit improved 40.1 per cent to EUR 1.03 billion, from EUR735 million last year. Revenue improved 35 per cent to EUR14.9 billion, compared to EUR11 billion in the third quarter 2005. "The integration of logistics service provider Exel and financial service provider BHW as well as organic growth drove this increase," Deutsche Post said. Deutsche Post's enlarged logistics unit now operates under the DHL brand with two logistics brand areas: DHL Exel Supply Chain and DHL Global Forwarding. Operating income at the logistics division rose 70.3 per cent in the third quarter to EUR189 million with revenue up 100.6 per cent to EUR6.1 billion.
"Business continues to develop well in terms of integration, performance and growth," the company said of its logistics performance. For the year to date, Deutsche Post posted net income of EUR1.27 billion, down 6.3 per cent compared to EUR1.36 billion after nine months last year. Operating income was up 7.5 per cent to EUR2.58 billion while revenue jumped 35.9 per cent to EUR44.2 billion. Looking ahead, Deutsche Post said it expects operating income of at least EUR3.9 billion on revenue of about EUR60 billion for the full year 2006. In 2005, the company posted operating profit of EUR3.8 billion and revenue of EUR44.6 billion.