DHL net profit increases 288pc to US$3.4 billion in 2010

DHL, the world's largest logistics firm, posted a 288 per cent net profit increase in 2010 to EUR2.5 billion ($3.4 billion) from EUR644 million in 2009.


Operating profit excluding extraordinary items, increased 50 per cent to EUR2.2 billion, and the revenue increased 11.4 per cent to EUR51.4 billion.


This was credited to better express and mail service results and the sale of its Postbank business to Deutsche Bank, one of the extraordinary items, reported London's International Freighting Weekly. Its forwarding and freight division posted an operating profit of EUR390 million, up 41.8 per cent on 2009 drawn on revenues of EUR14.3 billion, up 27.6 per cent.


Its supply chain division was also able to return to the black with an operating profit of EUR274 million against a loss of EUR132 million in previous year.


Said CEO Frank Appel: "The savings generated in the previous year improved profitability in almost all divisions, coupled in some cases with significantly higher margins."
(Source:http://www.schednet.com)