Deutsche Post considers sales of water and gas

Klaus Zumwinkel, the chief executive of Deutsche Post AG, the German postal company, spoke of the prospect of a record year in 2001, announcing the results for the first quarter. He said he expected profits to reach record levels, while the proposed increase of Post’s stake in DHL, the express delivery company, to 73 per cent would also bring further growth. Mr Zumwinkel also said the company had launched a pilot project for the sale of electricity at post offices, and was considering expanding the scheme to the sale of gas and water. Deutsche Post’s Ebitda was up by 4.2 per cent to 840m euros in the first quarter, although net profits were down by 6 per cent due to higher tax costs. Turnover increased by 10.1 per cent to 8.58bn euros. Finance director Edgar Ernst forecast profit growth of 4 per cent for the year, and hoped that the market would recognise this with a rise in Deutsche Post’s share price.
Abstracted from Die Welt in German FT McCarthy – Copyright 2001 Financial Times Information.
Source: World Reporter (Trade Mark).DIE WELT, 17th May 2001