German logistics giant Deutsche Post DHL has recorded an 18.7 percent year-on-year decline in operating profit (EBIT) to EUR2.41 billion (US$2.64 million), drawn on revenues of EUR59.23 million, an increase of 4.6 percent.

DHL Global Forwarding, long a problem child for the group, contributed to a record fourth-quarter operating profit, although its much ballyhooed EUR336 million IT system was a third quarter write-down.

Nonetheless the forwarding unit posted fourth quarter operating profit that rose 39.4 percent to EUR99 million, but still too little to offset a full-year operating loss.

The company credits the "implementation of turnaround measures" within the Global Forwarding, Freight division for the comeback that led to the division posting its first quarterly improvement since 2013.

The performance also helped boost group-wide fourth quarter operating profit 5.7 percent to EUR957 million - "the best quarterly result on an operating basis in the history of the group".

DP DHL's Supply Chain division also contributed with a 9.3 percent improvement in last quarter operating profit to EUR176 million, thanks to "initial positive results from the optimisation programme and higher income from real estate transactions", more than offset restructuring costs of EUR39 million.

Source: shippingazette.com