Strong TPG Operating Income Growth
Excellent Execution Drives Strong TPG Operating Income Growth
Record second quarter margins in Mail and Express
Highlights:
Operating income up 30.8percent in second quarter
– Record second quarter margins in Mail and Express
– Logistics turnaround on track
Net income up 31.5percent
Free cash flow up EUR39 million
Interim dividend up 11percent to EUR0.20 per share
Express and Mail outlook raised
TPG-1 initiative taking shape
First major step into Freight Forwarding
CEO Peter Bakker:
“I am pleased with the increase of almost 31percent in operating income over the second quarter as it underlines excellent execution in our businesses. These strong results are achieved in economic conditions that are getting better but are still mixed, looking at our different geographical markets and sectors. With an improved outlook in Mail and Express, TPG is able to reiterate with increasing confidence that good improvements in operating and net income will be achieved in 2004.”
TPG N.V., with its two brands TNT and Royal TPG Post, is a global provider of mail, express and logistics services. The group employs around 160,000 people in 64 countries and serves over 200 countries. For 2003 the company reported sales of EUR11.9 billion. TPG N.V. is publicly listed on the stock exchanges of Amsterdam, New York, London and Frankfurt.
For the complete press release, please see attachment.
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P:LibraryTPG pg 2004 2ndQ result.pdf
