Cost cutting boosts profit at TNT
Monday 26 February 2007
Cost cutting and expansion abroad helped boost net profit at post group TNT last year. Net profit from ordinary operations was up 7.5% at €828m on sales almost 8% higher at over €10bn.
'We have done well across the board,’ CEO Peter Bakker told ANP. TNT decided in 2005 to focus on European postal services and parcel delivery worldwide. Its logistics and cargo management operations were sold last year.
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