German postal and logistics giant Deutsche Post said on Tuesday its profits surged more than 40 percent in 2012 on the back of the strong performance of its DHL express division.
Deutsche Post said in a statement its net profit soared by 42.6 percent to 1.658 billion euros ($2.1 billion) in 2012.
Underlying or operating profit grew by 9.4 percent to 2.665 billion euros on a 5.1-percent rise in revenues to 55.512 billion euros.
"This increase mainly reflects the exceptional market position that DHL maintains in the world’s growth regions -- especially in Asia," said chief executive Frank Appel.
DHL, "which operates in more than 220 countries and territories in the world, is now generating about 70 percent of its revenues outside Germany," he said.
In the fourth quarter alone, Deutsche Post's net profit increased more than threefold to 542 million euros.
Operating profit was up 38.1 percent at 827 million euros on a 3.2-percent rise in sales to 14.577 billion euros.
Looking ahead, Deutsche Post said it expects revenues to continue to increase in 2013, "particularly in the DHL divisions."
Operating profit was projected to increase to between 2.7-2.95 billion euros and "consolidated net profit is projected to grow in line with the operating business in 2013," the group said.