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Updated Wednesday, March 10, 2010 11:22 am TWN, AP

Deutsche Post Q4 net loss narrows to US$385 million

FRANKFURT -- German mail and logistics company Deutsche Post AG says its net loss for the fourth quarter narrowed to 283 million euros (US$385 million) largely because of a cost savings program. The Bonn-based company lost more than euro3 billion in the fourth quarter of 2008. Revenue for the October-December period of 2009 was 12 percent lower to 12.4 billion euros from 14 billion euros a year ago. For the full year, the company managed to post net income of 644 million euros from a net loss of 1.7 billion euros in 2008.

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