Deutsche Telekom sticks to targets

Deutsche Telekom is on track to meet its 2011 targets, it said, despite a poor performance in the US, continued economic weakness in southeastern Europe and sluggish growth in Germany. Second-quarter group net profit dropped 26.7 per cent to €348m (£302.4m), mainly due to €600m in one-off expenses for an early retirement plan in Germany, where sales fell 3.4 per cent. Group sales were down 6.8 per cent at €14.5bn, slightly missing average estimates.