German postal and logistics dispose Deutsche Post DHL said it expected a further increase in earnings after a 7.2 percent upsurge in 2017 profit, with online shopping driving demand for section
deliveries and a turnaround at its freight unit taking hold.
The group tell of 2017 earnings before interest and tax (EBIT) of 3.74 billion euros ($4.65 billion), in assemble with its target of 3.75 billion euros, but slightly below the 3.789 billion euros contemplated in a Reuters poll.
It said it expected EBIT of 4.15 billion euros for 2018 and foretell that would rise to over 5 billion euros in 2020.
“DHL is benefitting from e-commerce, and we are dauntless we will see a strong continuation of that growth over the coming years,” Chief Head honcho Frank Appel said in a video interview posted online.
He pronounced the group delivered more than 1.3 billion parcels in Germany for the sooner time in 2017.
At the group’s freight division, where a planned renewal of its IT schemes previously ran into problems, the second half of the year proved innumerable positive than the first. In the first part of the year, the division was impotent to pass on higher freight rates to customers.
Appel said that the category had seen growth in sales and profit in the fourth quarter, with EBIT up 18.3 percent, and that he was courageous 2018 would see “significant improvements”.