Deutsche Post braces for Christmas ecommerce boom

BERLIN (Reuters) – German logistics group Deutsche Post AG said on Tuesday it was working on securing the capacity it needs to handle a big rise in ecommerce over the Christmas season, which will determine whether it meets the upper end of its outlook.

Deutsche Post DHL, one of the world’s biggest post and freight companies, reported third-quarter operating profit jumped almost 50% to 1.4 billion euros ($1.66 billion) on revenue up 4.4% to 16.2 billion, versus average analyst forecasts for 16.1 billion.

It confirmed the updated guidance it gave last month for 2020 operating profit of between 4.1 billion and 4.4 billion euros, but said achieving the upper end of that would depend on whether it can efficiently use its delivery networks as volumes soar.

($1 = 0.8452 euros)

(Reporting by Emma Thomasson; editing by Thomas Seythal)