TNT Reports Increased Q2 Revenues
TNT, a provider of mail and express delivery services, has announced that its revenues for the second quarter of 2008 increased 7.5% to E2.81 billion, compared to E2.69 billion in the second quarter of 2007.
The company has reported an operating income of E324 million, compared to E330 million in the second quarter of 2007. Earnings before interest, taxes, depreciation and amortization decreased 1% to E410 million, compared to E415 million in the second quarter of 2007.
In the second quarter of 2008, profit from continuing operations decreased 8.2% to E207 million from E233 million in the second quarter of 2007. Net cash from operating activities increased 63.3% to E215 million, compared to E139 million in the second quarter of 2007.
Peter Bakker, CEO of TNT, said: “The second quarter of 2008 has seen a shift in trading volumes in Express. In April and May the volumes in Europe were in line with the preceding quarters, but in June we have experienced a slow down in the premium Express volumes in Europe. The sharp rise in fuel prices during the quarter and the general economic outlook has impacted both our customers and us.”