TNT earnings rise, despite less post

TNT, which is planning to cut jobs at its Dutch postal division by at least 7,000, saw sales at that division fall by 1.6% in the first three months of this year as the Dutch sent over 4% fewer letters.

TNT had put up the price of stamps by five cents at the beginning of the year, the first increase in five years. But strong growth in the UK and Germany boosted total postal operation sales 4.5% to just over €1bn.
TNT’s other main division – express deliveries – booked a 12.3% increase in sales, to €1.6bn. In total, first quarter net profit reached €234m, compared with €215m in the first three months of 2006.

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