Deutsche Post’s Appel predicts growth in Asia

CEO Frank Appel believes the share of Deutsche Post’s sales in Asia will gain to 20% or more by 2012.

The share of Deutsche Post’s sales in Asia will gain to 20% or more by 2012, the newspaper said, citing Appel.

Deutsche Post AG will continue to buy “small” companies in Asia as the financial crisis cuts their market value, Frankfurter Allgemeine Zeitung, citing an interview with Chief Executive Officer Frank Appel.

The Bonn-based postal service will grow by a percentage in the “higher single digits” in Asia this year, Appel told the newspaper.

Deutsche Post expects to meet its full-year target for earnings before interest and tax of 2.4bn euros ($3.16bn) and is “confident” it will be able to pay a dividend for 2008, Appel told the newspaper.