DHL Exel parent company Deutsche Post has reported a fourth-quarter drop in income. The mail carrier posted a net income of £196m - down 61% from £497m a year ago - following problems at its US business DHL Express. Deutsche Post World Net has also split its logistics business into two units: supply chain and freight forwarding.
A company statement says the decision is a "structural move without any immediate costs or gains associated with it". There will be no changes to the group's reporting
structures "for the time being". Last month, Deutsche Post appointed Frank Appel chief executive. Former boss Klaus Zumwinkel resigned after finding himself at the centre of a tax evasion scandal.
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