TNT books heavy loss
Post and express delivery service TNT on Monday announced a loss of 15% on an increase in turnover of 11% in the third quarter of 2010.
Although turnover rose to €2.77bn, the ebit fell to €157m, mainly as a result of the costs of splitting Post and Express – due on January 1 2011 – and higher pension costs.
Express booked an ebit rise of 9% to €74m, while Post saw its ebit fall 27% to €83m.
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