Dutch number one operator KPN has reported a 14 percent drop in net profit in 2011 compared to a year previously, of EUR1.5 billion compared to EUR1.8 billon. Revenues for the 2011 financial year were EUR13 billion compared to EUR13.3 billion in 2010, down 2.3 percent. CEO Eelco Blok said the company’s 2011 performance “did not meet our expectation.” KPN will therefore accelerate its investment strategy in The Netherlands in 2012, meaning group profits and cash flow will be lower. The operator group will also continue to invest in its network roll-out in Germany and Belgium.