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Nov 11, 2016

DHL news * Germany - Parcel unit beat expectations

* Berlin - Deutsche Post invests in network as parcel deliveries drive profits

--- Deutsche Post DHL said it would continue to invest in its European parcel delivery network and in new ways of getting packages to online shoppers, after the parcels unit helped it beat expectations for third-quarter profit... Like other European postal groups, Deutsche Post is expanding its parcels business to cope with declining letter volumes and to stay ahead of new rivals in the lucrative parcel delivery market... The move by major customer Amazon.com to carry out more of its own parcel deliveries is seen as a threat to Deutsche Post DHL, Europe's biggest postal group. However, the German company has shrugged it off, saying no single customer accounts for more than 2 percent of total group revenues... The group is instead investing in expanding its delivery network further, setting up a Europe-wide parcel delivery network. It is buying Britain's UK Mail for 243 million pounds ($316 million), and plans to enter the market in Spain and Portugal next year... 
(Photo: DHL Van + Truck Singapore)  --  Berlin, Germany - Reuters, by Victoria Bryan - Nov 8, 2016

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