Deutsche Post sees subdued profit growth on weak economy

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Deutsche Post-DHL this morning presented its fourth-quarter and full-year results for 2014, reporting that operating profit growth may be under 3% this year – news which sent its share price tumbling. The company saw fourth-quarter air freight volumes increase 2.7% and ocean freight by 3.4%, both of which put it in the middle of market growth rates. However, earnings before interest and tax in freight forwarding fell by 49%, which it said was the result of rate pressure in the sector – something few would dispute. Nonetheless, financial analysts concluded its 2015 outlook was “below expectations”.