Deutsche Post’s 2Q Profit Improves

Deutsche Post, the Germany-based parent company of DHL USA, said Tuesday its second-quarter quarter results improved as it boosted its earnings forecast, Bloomberg reported.

Net income rose to about $107 million, from $87 million a year ago, while sales rose 16% to about $17 billion. Bonn, Germany-based Deutsche Post reports its earnings in euros.

The company, which also has mail operations in Europe, said freight volumes improved, Bloomberg reported.

Deutsche Post, which last year closed its U.S. domestic business, said its full-year earnings before interest and taxes would be as high as 2.1 billion euros, or about $2.8 billion, Bloomberg reported.

The company’s growth was strongest in Asia, followed by Latin America and the Middle East, while Europe was “somewhat restrained,” Chief Executive Officer Frank Appel told Bloomberg.

The company aims to outgrow global trade volumes in the second half and its DHL units will improve their market share, he said.

DHL USA is ranked No. 3 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.