Deutsche Post Q4 Net Profit Drops

reported a drop in its net profit for the fourth quarter. Deutsche Post's quarterly net profit declined 17% y/y to 640 million euros ($685 million), versus a year-ago profit of EUR772 million. Basic EPS slipped to 0.53 euros from 0.64 euros. Its sales rose 6.3% to EUR15.4 billion. Analysts were estimating a profit of EUR666 million on revenue of EUR14.87 billion. The company's operating profit rose 1.9% to EUR905 million. Deutsche Post announced its plans to pay a dividend of EUR0.85 per share for 2014, versus EUR0.80 for 2013. Deutsche Post also confirmed its outlook for 2015. The company it still projects operating earnings of EUR3.05 billion to EUR3.2 billion. "Despite a still challenging environment we delivered a solid performance in 2014, by building on our strong market position in E-Commerce and emerging markets," said Frank Appel, the CEO of Deutsche Post DHL Group. "In 2014 we were able to further successfully execute Strategy 2015 despite the lack of significant tailwind from the global economy." Deutsche Post shares fell 1.84% to close at $32.53 yesterday.