DPWN's profits up 12.5pc

DUBAI — DHL, one of the leading express and logistics group in the Middle East has announced that Deutsche Post World Net (DPWN), its global parent group, last year recorded a 12.5 per cent increase in gross profits to euros 3.4 billion, close to the top end of forecasts.

By A Staff Reporter

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Published: Fri 15 Apr 2005, 12:24 PM

Last updated: Thu 2 Apr 2015, 4:02 PM

DHL's own contribution to the consolidated group results are believed to have increased in line with tremendous growth in the regional business, and well ahead of world averages.

DHL currently has nearly 50 per cent of the express market and with its own growth rates exceeding 20 per cent a year is confident of an increasingly impressive slice of the express cake.

In an interim statement ahead of the release of the final report and accounts for 2004, the group confirmed earnings targets for last year were fully met. It saw a 7.9 per cent increase in revenues to euros 43.17 billion and group net income climbed by 21.3 per cent to about 1.59 billion euros - or 1.43 euros a share, against 1.18 euros a share in 2003. This was the global background against which DHL predicted annual growth in excess of 20 per cent in the regional market and forecast that its Middle East business could double in the next five years.

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