German logistics giant Deutsche Post DHL (DP-DHL) has released its Q1 figures that show it has missed its target.
After delivering the result, the company stated that it was to work on new ways to slash costs at its post and parcels division.
The company reported Q1 earnings as down to US$17.51 billion, missing expectations $17.82.
In 2017, a labour agreement saw Deutsche Post have to increase its wages, and the group said that profit in its post-eCommerce-parcels (PeP) division was hit by higher staff and transport costs.
The race is now on for the company to recover and attempt to hit its near US$5 billion target for 2018 in all.
Chief Financial Officer of DP-DHL Melanie Kreis, said: “We are working on different measures to keep the cost base under control for the remaining months of the year.”
Despite the overall shortfall in Q1, DP-DHL did see profit surge in its freight and express divisions.
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