Deutsche Post DHL hikes outlook again on ecommerce boom


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BERLIN (Reuters) -German logistics company Deutsche Post raised its financial outlook again on Wednesday after more than tripling its operating earnings in the first quarter, predicting e-commerce will keep booming and global trade will rebound.

Deutsche Post DHL raised its operating profit forecast to more than 6.7 billion euros ($8.05 billion) in 2021 and more than 7 billion in 2023, up from a previous expectation of over 5.6 billion and over 6 billion, respectively.

Deutsche Post, one of the world’s biggest logistics companies, reported its first-quarter operating profit jumped to 1.9 billion euros on revenues up 22% to 18.9 billion.

“All five of our divisions are on track for growth and are ideally positioned to benefit from the continuing boom in e-commerce and the resurgence in global trade,” said CEO Frank Appel.

“We expect further growth in the coming quarters, even with growth rates normalizing over time.”


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Rival United Parcel Service last week topped Wall Street estimates for quarterly revenue, as the world’s biggest parcel delivery company benefited from a surge in online purchases during the COVID-19 pandemic, sending its shares up.

($1 = 0.8319 euros)

(Reporting by Emma ThomassonEditing by Riham Alkousaa and Krishna Chandra Eluri)

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