TNT reports improved results in Q1
TNT has reported a 12.4% increase in revenues for the first quarter, with operating income up 54%, both due to a rebound in profitability for the Express business as well as a good contribution from the Mail business. Group results:
Express segment:
Mail segment:
TNT assumes a modestly improving business environment in 2010. However, given that the global economic recovery remains fragile, caution is warranted, and the company’s focus will remain on costs and cash. TNT expects continuing volume and revenue growth in the Express segment, most of which will be from international services, especially International Economy. TNT expects addressed mail volume to decline in the Netherlands by 7% – 9%, due to the first full-year effect of liberalisation combined with normal substitution. With a master plan savings target of €75 million, Mail results are expected to be below 2009 levels. Quelle: eyefortransport Portal: www.logistik-express.com |