FRANKFURT, Germany (AP) — Express delivery and freight company Deutsche Post DHL says net profit rose 6 percent in the third quarter as its parcel delivery business in Germany benefited from growth in online retailing.
Net profit reached 399 million euros ($534 million), up from 377 million in the same quarter last year. The figure was just short of the average analyst estimate of 403 million euros compiled by FactSet.
The company said Tuesday profits increased despite a decline in sales attributed to shifts in exchange rates. Revenues fell 2.5 percent to 13.50 billion euros.
Earnings rose at its express delivery business and from delivering letter and parcels in Germany. Parcel revenue for deliveries to customers of on-line retailers rose 9 percent as the company increased drop-off points and expanded evening deliveries.