Deutsche Post Q1 Net Profit Drops

German company

reported a 1.4 percent drop in its net profit for the first quarter. Deutsche Post's quarterly net profit declined to 495 million euros ($552 million), versus a year-ago profit of EUR502 million. EPS shrank to 0.39 euro from 0.40 euro. Its revenue rose 8.8 percent to EUR14.8 billion. For the full year, Deutsche Post projects earnings before interest and taxes of EUR3.05 billion to EUR3.2 billion. In 2016, the company expects EBIT of 3.4 billion euros to 3.7 billion euros. Deutsche Post shares fell 1.19 percent to close at $33.28 yesterday.