TNT’s first quarter sales were up 8.9 per cent to 2,647m euros while the profit from continuing operations was up 6.9 per cent at 216m euros.
The Logistics division, which is up for sale, saw losses increase from 8m to 11m euros.
Chief executive Peter Bakker said: “We are pleased with the developments in quarter one of 2006. In all key areas of our focus strategy, good progress has been made. Our businesses performed well, tax issues were further mitigated and the logistics divestment is in progress. Our performance clearly supports the strategic direction that we started with our focus strategy.”
The group said operating income in the Express division was up 30.5 per cent while in Mail sales were up over four per cent revenue with an operating margin of almost 22 per cent.