On Monday, Deutsche Post (OTC:DPSGY), the German logistics company, said that it would hike its full-year guidance when it reports Q3 financial results on November 8. The company cited an increase in quarterly profits for the same.

Deutsche Post reported that Earnings before interest and tax (EBIT) increased to 2.04 billion euros (USD 1.98 billion) in the three months through September from 1.77 billion in the year-earlier period.

The company further said that the volume of e-commerce shipments improved in the quarter after base effects associated with pandemic had caused declines in the first half of the year. It also reported that capacity bottlenecks in the ocean and air freight have eased. The group previously said it aimed for a full-year EBIT of 8.0 billion euros, plus or minus 5 per cent.

Founded in 1995, The Deutsche Post AG is a German multinational package delivery and supply chain management company. Headquartered in Bonn, Germany, it is one of the world’s largest courier companies.