Friday 30th Sep 2016 - Logistics Manager

Operating profit rises at TNT

TNT’s operating profit rose to  €19 million in the second quarter, from €3m in the second quarter of 2014. Revenue was up 6.2 per cent to €1.76 billion.

CEO Tex Gunning, said: “TNT’s turnaround is progressing well under our Outlook strategy. Service levels and customer satisfaction scores further improved. We are achieving good growth in the SME customer segment after years of decline. Operational excellence investments in infrastructure and Global Business Services are being implemented according to plan and we continue to attract top industry talent.

“During the quarter, FedEx announced its intention to acquire TNT. The management team believes this is a very positive development for all our stakeholders,” he said.

TNT expects 2015 to be a challenging year of transition marked by the progressive ramp-up of new and upgraded facilities and other transformation projects, such as the outsourcing of IT. It anticipates restructuring charges of between €25 million and €30 million in the third quarter of 2015.