Deutsche Post: share jumps after record results

(CercleFinance.com) - The Deutsche Post share is up significantly on Tuesday morning following the publication of unprecedented annual results, even though they were accompanied by a warning regarding the harmful effects of the coronavirus.


German postal operator says all its divisions continued to grow in 2019 - from its courier activities to its express delivery subsidiary - a performance that enabled the group to post FY 2019 sales that are up 2.9% at 63.3 billion euros.

Deutsche Post posted EBIT that was up over 30% at 4.1 billion euros over the period, which the group says is a new record, within its target range of between 4 billion and 4.3 billion euros.

For 2020, Deutsche Post has confirmed its target of perating profit in excess of 5 billion euros, even though this forecast excludes the negative impact of the coronavirus, which the group already says is beginning to be felt in revenues.

Despite this warning, the stock is currently up over 6% on the Frankfurt Stock Exchange, by far the biggest winner in the DAX index (almost +3.5% at 11.30 am) in a stockmarket rebound.



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