DHL Q2 net profit up 23%

Deutsche Post DHL generated double-digit revenue growth in the second quarter of this fiscal year, strongly accelerating the growth rate compared to the first quarter. At the same time, the Group nearly doubled its underlying operating profit versus the same period last year. The DHL divisions were the driving forces behind the increase in consolidated revenue, which climbed 15.6 percent to EUR 12.8 billion compared with the second quarter of 2009.

This development reflects both the company success in acquiring business with new customers and the marked rise in transport volume being fueled by the continuing economic recovery as well as favorable currency effects in all DHL divisions.

In addition, the efficiency measures implemented in 2008 and 2009 have resulted in higher margins and increased profitability of all divisions. Underlying EBIT at the Group totaled EUR 503 million, 95.7 percent above the previous year level. Despite significant non-recurring expenses of EUR 250 million, which were mainly related to the sale of the domestic Express business in France, the Group consolidated net profit still increased 22.7 percent to EUR 81 million in the second quarter of 2010.

In enabler of global trade, we benefited significantly from the recovery of the world economy in the second quarter. This was particularly true at the DHL divisions, which have become the sustainable driver of the Group's profit growth, said Deutsche Post DHL CEO Frank Appel.

We are now reaping the fruits of our successfully implemented strategic initiatives and efficiency-enhancing measures as well as the portfolio restructuring that we have largely completed. <Korea Shipping Gazette>