TNT books lower profit, turnover in Q3

Express parcel delivery group TNT booked a drop in net profit from €8m to €6m in the third quarter of this year while turnover fell 6.6% to €1.6bn.

Pressure on prices remains strong in western Europe and the company expects the situation to remain unchanged in the coming months.

TNT is in the middle of a reorganisation which will cut its workforce of 75,000 by 4,000. The revamp is aimed at generating structural savings of €220m a year by 2015.

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