Deutsche Post Posts Higher Q3 Profit

Deutsche Post AG

reported a 17% rise in its third-quarter net profit. Deutsche Post's quarterly net profit surged to 468 million euros ($584.6 million), versus a year-ago profit of EUR399 million. Its revenue rose 4.1% to EUR14 billion from EUR13.45 billion, while earnings before interest and taxes gained 4.8% to EUR677 million. Post - eCommerce - Parcel revenue jumped 2.4% to 3.73 billion euros. Express division revenue gained 7.6% to 3.11 billion euros. Revenue in the Global Forwarding, Freight division gained around 3% to EUR 3.8 billion, while revenue at the Supply Chain division climbed 4% to EUR 3.7 billion. The group's capital expenditures increased to EUR 494 million from EUR 400 million. "We continue to profit from our unique competitive position in emerging markets and our role as an eCommerce enabler. For this reason, we remain on track in spite of the current challenging environment," said Frank Appel, the CEO of Deutsche Post DHL. For 2014, Deutsche Post still projects EBIT to increase to EUR2.9 billion to EUR3.1 billion. Deutsche Post shares rose 0.67% to close at $31.41 yesterday.