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Deutsche Post Reports Profit on Freight Rebound

German mail and logistics company Deutsche Post has booked a profit for the third quarter in a row and raised the low-end of its yearly forecast, helped by a sharp rise in its global freight division.

The company, owner of DHL, said Tuesday third quarter net income was euro226 million ($314.52 million), compared with a euro83 million loss a year earlier, and higher than analysts had anticipated.

The bottom line was helped by a euro1 billion rise in revenues in the global freight division in the quarter to euro3.7 billion -- 36 percent higher than last year's euro2.7 billion.

The company says 2010 earnings before interest and taxes should come in between euro2 billion and euro2.1 billion, compared with the previously forecast range of euro1.9 billion and euro2.1 billion.