Axel Springer eyes higher profits, sales in 2014

German media giant Axel Springer said on Thursday it is expecting higher sales and earnings this year after it met all of its targets in 2013. "For the full year 2014, the executive board expects total revenues to rise by an amount in the middle single-digit percentage range," Springer said in a statement. The expected drop in circulation revenues would be "more than offset" by the planned increase in advertising revenues and other revenues, it said. And the board was also aiming at an increase in underlying profits, the statement said. In 2013, net profit declined by 11.6 percent to 243.7 million euros ($335 million). Underlying or operating profit fell by 8.9 percent to 454.3 million euros while sales increased by 2.3 percent to 2.801 billion euros. "We pushed forward firmly with the transformation of our business in 2013, on its way to becoming the leading digital publisher," Springer said. "We invested considerably in expanding our paid-content offerings on the Internet and enlarged our portfolio of online offerings through complementary acquisitions." Springer said it would pay an increased dividend of 1.80 euros per share for 2013, compared with 1.70 euros a year earlier.