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Deutsche Post reduces 2008 outlook

Deutsche Post reduces 2008 outlook

Mail and logistics company Deutsche Post AG said Monday that it saw a strong reduction in pretax profit in the third quarter and would not be able to meet its full-year forecast.
Separately, the company said its Postbank retail banking unit would issue new shares as a result of losses in the third quarter.
Deutsche Post said it saw a roughly 8 percent reduction in earnings before interest and taxes "as the global economic environment deteriorated markedly." It did not give an earnings figure, but said last year's figure was 468 million euros.
Deutsche Post said it now expects group underlying EBIT for 2008 of around 2.4 billion euros ($3 billion) _ some 10 percent below last year's result and 17 percent below its previous guidance.


Updated : 2021-05-19 05:56 GMT+08:00