Deutsche Post: share abandoned after FY results.

(CercleFinance.com) - Deutsche Post is down 2.
4% in Frankfurt this morning, the worst performer on the DAX, after the group presented annual results including EPS of 2.19 euros, against a consensus of 2.16 euros.

The German postal giant saw its operating profit rise by 45% to 3.5 billion euros, although this was towards the bottom of its target range of 3.4-3.7 billion euros, on sales that fell 3.2% to 57.3 billion euros.

However, adjusted for certain items such as negative FX factors and lower fuel surcharges, revenues rose by 2.8%, with dynamic growth for parcel activities in Germany and international express deliveries.

In light of these results, Deutsche Post's management will propose a 24% increase in its FY dividend, to 1.05 euro per share, and says that it expects operating profit to increase towards 3.75 billion euros in 2017.


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