UPDATE 3-D.Post to speed cost cuts, sees no need for M&A
* CEO says no M&A plans, no bid for Royal Mail
* Says will reach 1 bln eur cost cuts sooner than planned
* Says Q1 underlying EBIT down 42.1 pct at 312 mln eur
* Says to reorganise Express, Mail divisions
* Shares up 1.6 pct in line with German blue chips
(Adds CEO comments on M&A)
FRANKFURT, May 6 (Reuters) - Deutsche Post DHL (DPWGn.DE) aims to cut its cost base further and focus on organic growth to win market share from rivals such as United Parcel Service (UPS.N) and FedEx (FDX.N), its chief executive said.
"There is no interest in new adventures just because we have cash," Frank Appel said at its annual Capital Markets Day on Wednesday after quarterly operating profit at Europe's biggest mail and express delivery group beat expectations.
Deutsche Post has pocketed more than 4 billion euros in cash from a deal to sell its unit Deutsche Postbank (DPBGn.DE) to Deutsche Bank (DBKGn.DE), eradicating its net debt.
But Appel said Deutsche Post had not submitted a bid for Britain's Royal Mail [GBPO.UL], for which the government there is seeking an investor, and brushed off speculation Post may be interested in Austria's Oesterreichische Post (POST.VI).
"Our international foreign domestic business is not very successful. Cross-border is successful, and in foreign domestic we are much more cautious than we were before," he said.
Reuters had reported on Monday that Post had not bid for Royal Mail, citing people close to the matter.
Shares in Deutsche Post rose 1.6 percent to 9.969 euros by 1249 GMT, in line with Germany's blue-chip index .GDAXI.
For now, Post said it would focus on cutting costs in its Mail and Express divisions and may reach its target of cutting costs by 1 billion euros ($1.34 billion) sooner than planned.
"Deutsche Post DHL still managed to surprise positively with very good progress in cost savings and a further upgrade in restructuring measures," Commerzbank analyst Frank Skodzik said. Continued...
