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    Default Deutsche Post DHL Lost $123 Million

    Express unit earns profit after restructuring charges; forecast improves
    Deutsche Post DHL lost $123 million in the third quarter, reflecting costs involved in DHL's exit from the U.S. domestic parcel delivery market and the bankruptcy of a major customer, German retailer Arcandor.

    Revenue fell 18.6 percent to $16.5 billion, and third quarter operating income fell to $340 million from $1.4 billion a year ago.

    Those results beat expectations and allowed the world's biggest logistics company to raise its profit forecast for the full year. The German mail and express delivery group said it now expects earnings before interest and tax to reach at least $2 billion this year against a previously forecast $1.76 billion as cost cuts counter slumping cargo volume.

    "With our cost management bearing fruit we are able to mostly offset the negative effects of the [global economic] crisis," said CEO Frank Appel.

    "Although we see initial positive signals with the stabilization of transport volumes, there's still no indication of a full scale economic recovery," Appel said. "Therefore we can't ease up, we must accelerate our efforts.”
    Deutsche Post DHL Lost $123 Million | Journal of Commerce

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    DOC
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    Default Re: Deutsche Post DHL Lost $123 Million

    Please note that any money "lost" needs to be defined!!!!! If it is the potential business that you do not have, but money that could have made, it actually has not been lost. Merely, a marketshare that a company has not gotten a piece of the pie. Losses are dollars that a company has actually earned and then have no longer as a result of expenses, poor management decisions, etc...............
    Last edited by DOC; 11-05-2009 at 11:24 AM.

 

 

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