Deutsche Post's first-half net drops (ABIX Summary)
Deutsche Post recorded an operating profit of XEU1.41bn for the first six months of 2001
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Taxes cut into increased Deutsche Post revenues .Deutsche Post was unable to post increased profits
As expected, the German logistics provider increased turnover by 7%
to E16.8bn (Dollars 14.66bn). Earnings before interest and taxes
went up 5.5% to E1.4bn. However, net profits, fell slightly from E1.1bn to E1.05bn. ‘The
primary reason for this was the year-on-year increase in the tax
ratio, due to the consumption of tax loss carry-forwards,’ said
chief executive Klaus Zumwinkel.
Setting a Sale Date German government's majority stake in Deutsche Post may be sold next year
The German government plans to introduce legislation that would allow it to sell its majority stake in Deutsche Post as early as next year. Legislation expected to be enacted by the end of the year would reverse an earlier law that requires the government to hold a majority stake in the postal service for at least five years after its initial public offering, which was held last November.
Read MoreDeutsche Post to open transport internet portal
Deutsche Post AG, the German post office, is to launch its own internet portal in October for the purchasing of transport services.
Read MoreDeutsche Post reliability dispute
According to research presented by competitors of Deutsche Post, the post’s staff are working more slowly than the company admits. The research claims that letters posted in the late afternoon or evening have a low chance of being delivered the next day. Deutsche Post said the test covered such a small sample that it could not be taken seriously.
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