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P BUSINESS
Page 9
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Contrasting fortunes as logistics giants post returns
By Christopher Walton and Roger Brown DEUTSCHE POST DHL's revenues fell almost 19% to €11.2bn (1:10bn) for the three months ending 30 September. It posted a thirdquarter pre-tax loss of €79m (£70.9m), compared to a pre-tax profit of €1.3bn (£1.2bn) for the same period in 2008.
Revenue in the UK increased 2% organically, driven mainly by growth in the healthcare sector.
The company added that it incurred a €146m (£131m) charge in its supply chain division following the collapse of German retailer Arcandor, as well as charges following the decision last year to withdraw from loss-making domestic business in the US.
A statement by the DHL board of management said: "So far, only a very slight volume recovery can be observed, and we continue to cautiously assume no significant pick-up in trading in the remainder of the year."
WINCANTON HAS posted a drop in half-year profit and turnover, but says UK operations remain strong and it has acted to improve performance in mainland Europe.
Pre-tax profit for the six months to September fell 16% to £18m, from £21.4m the previous year.
Operating profit was £26m in the first half of 2009 compared with E30.6m in the same period in 2008 — a drop of 15%. Revenue fell 10% to £1.08bn from £1.2bn the same time last year.
This year, Wincanton closed parts of its UK home delivery business and loss-making depots in Germany.
However, in September, the firm revealed it had won £275m of new business from Marks & Spencer.
PARCEL CARRIER City Link's revenues rose 9% to £93.5m for the three months ending 30 September. It also posted an operating loss of £1.3m compared to iI1.6m a year ago. Third-quarter parcel volumes rose 1.1% compared with the second quarter of 2009, but fell 3.5% year-on-year.
City Link has benefited "indirectly and to a modest extent" from the UK postal strikes, but said the cost of handling sudden peaks while mantaining service was high.
The number of depots it runs has fallen from 97 to 85 this year, and its fleet is a third smaller.