By Dominic Chopping

DHL owner Deutsche Post posted lower quarterly earnings as its key business-to-business market failed to improve, but it said conditions should improve in the second half of the year and backed full-year guidance.

The German logistics group, also known as DHL Group, on Tuesday reported an 18% drop in first-quarter net profit that came in just above expectations.

"As expected, a broad and dynamic economic upturn failed to materialize in the first three months of the year," it said in a statement.

"DHL Group continues to expect more positive global economic momentum in the second half of 2024."

Write to Dominic Chopping at

(END) Dow Jones Newswires

05-07-24 0146ET