DHL forwarding losses drive down full-year group profits

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With its parcel business under attack from Amazon, DP-DHL could use some good news in its global forwarding and freight division – you know, the one it is definitely not selling. It reported yesterday, however, that freight revenues were flat, although business picked up in the second half. Unfortunately, the one-off IT write-down of €336m, put the division into a full-year operating loss, and depressed the profits for the group as a whole. LLL.com has the full story.