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Indiaexportnews.com

TNT posts revenue growth

  01.03.2007    

Dutch mail and express delivery company TNT has reported that group revenues for the 2006 financial year rose 7.8 per cent over the previous year to EUR10.06 billion (US$13.3 billion), partly driven by strong growth in the express business, the Shipping Gazette informs.
FY2006 operating income (EBIT) was 11.1 per cent higher year on year at EUR1.2 billion, following the completed divestment of its logistics and freight management activities last year.
The group also reported a loss from discontinued operations of EUR157 million, compared to a loss of EUR109 million in FY2005 from discontinued operations as well.
However, the group is yet to book the profits from the sale of its freight forwarding business and has been benefiting from tax credits against these losses. Subsequent gains will be announced with the FY2007 results, the company said.
During the reporting period, profit from continuing operations amounted to EUR828 million, an increase of 7.5 per cent compared to the previous year.
Cash generated from operations was up 14.0 per cent year on year, while the express division saw double-digit growth and recorded a record margin of 10.7 per cent. The mail business segment's revenue growth was said to have been driven by a 28.1 per cent increase in European mail networks.
The group is also continuing this year with its share repurchase scheme, which will involve up to EUR400 million.
TNT attributed its growth to its 'Focus on Networks' strategy that has ended its first full year with good progress on all fronts.


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