DHL quarterly profit soars 28.1pc to US$1.34 billion as sales rise 4.1pc
GERMANY's Deutsche Post DHL Group's year on year first quarter operating profit increased 28
GERMANY's Deutsche Post DHL Group's year on year first quarter operating profit increased 28.1 per cent to EUR1.2 billion (US$1.34 billion), drawn on revenues of EUR15.4 billion, up 4.1 per cent.
DHL Global Forwarding's first quarter operating profit profit soared 42.9 per cent to EUR100 million, drawn revenues of EUR3.8 billion, which increased 4.8 per cent.
DHL was not the only one to see its air freight volumes fall. Kuehne + Nagel reported a 3.1 per cent drop, while the overall air freight market is estimated to have declined by one or two per cent, noted London's Air Cargo News.
But air freight volumes fell for a fifth straight quarter, but profits increased as rates improved on a year ago, said DHL.
This represented a 4.2 per cent decline in air freight volumes during the first quarter to 495,000 tonnes, while air revenues increased by 3.4 per cent to EUR1.2 billion and gross profits improved by 4.2 per cent to EUR224 million.
'E-commerce continues to boom all over the world and although some momentum has been lost, global trade is still on the rise,' said DHL group CEO Frank Appel.
'We achieved growth in all five divisions,' he said. 'This shows that we are very well positioned in attractive markets. We are therefore on track towards our target of generating more than EUR5 billion in ebit in the coming year.'