TNT Express, the express delivery firm, posted an 8% drop in operating profit on Monday, due to higher fuel and wage costs and changes in transcontinental trade volumes.

Turnover rose 0.9% to €1.8bn.
The company also announced plans to restructure its Hoofddorp headquarters in the third quarter of this year.
‘Demand from Asia to Europe has been volatile and we are optimising our capacity accordingly,’ CEO Marie-Christine Lombard said in a statement. ‘The turnaround in Brazil is on track and although the short term will be challenging, we confirm our second-half 2012 deadline.’
The TNT group split into two at the end of May and TNT Express now has its own listing on the Amsterdam stock exchange.