Deutsche Post: misses the mark in 1st quarter

(CercleFinance.com) - Deutsche Post tumbles 6.
7% in Frankfurt after the logistics group publishes figures. Operating profits are up 2.3% to 905 million euros for Q1. These figures are, however, under consensus, which was 961 million according to Commerzbank.

Commerzbank, which downgrades its recommendation from 'Buy' to 'Hold', underlines that the operating profit of the Post-eCommerce-Parcel (PeP) division missed consensus by 10% because of inflation in transport and staff costs.

Deutsche Post's turnover, at 14.7 billion euros, fell because of exchange differences and the sale of the Williams Lea Tag subsidiary. Despite this, on an organic basis, quarterly revenues rose by 6.4%.

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