Deutsche Post posts profit of $677 million

[TrueBlueTerrier]

http://www.cnbc.com/id/42002504/Deutsch ... 77_million" onclick="window.open(this.href);return false;

FRANKFURT - Mail and express delivery company Deutsche Post AG made a profit of euro487 million ($677 million) in the fourth quarter as the economic recovery boosted its freight and DHL express delivery businesses.

That compares with a fourth-quarter loss of euro283 million a year ago. Revenues rose 12 percent to euro13.87 billion.

The Bonn-based company said Thursday the continuing global economic rebound meant it could make more money from moving freight and DHL express packages.

The better economy helped DHL, freight forwarding and logistics, but another business area — carrying the mail in Germany — saw a decline.

Deutsche Post says people have kept up with a habit that grew during the economic crisis — sending electronic communication rather than paying to send a physical letter. The company also spent more money on building up its online business, investing in new equipment, and had to make a one-time payment to employees.

For the year, profit rose euro2.54 billion from euro644 billion in 2009. Revenues rose 12 percent for the year to euro51.48 billion from euro46.2 billion.

Deutsche Post shares traded up 0.9 percent at euro12.94 in Frankfurt.

[Wessex]

That just the profit for one quarter
Quite amazing how they manage this with declining mail volumes lol