Shares in TNT Express slide after profit warning

Shares in Dutch parcels delivery company TNT Express fell on Wednesday after the company said it would not meet its full-year targets.

TNT Express also said it will take a €50 provision to settle a dispute in France about alleged anti-competitive practices in parcels delivery. Shares fell over 10% on the news.

‘Since the interim results of July 28 2014, overall trading conditions in Europe have deteriorated further and competitive pressures have increased,’ the company said in a statement.

The company said it will offer new guidance on its ‘strategy and our expectations for future performance’ in February 2015.

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