TPG CFO: high fuel prices not a major factor
High fuel prices aren’t having a major impact on the three units of Dutch logistics and postal firm TPG NV, Chief Financial Officer Jan Haars said Monday. “The rise in fuel prices is not a major factor,” said Haars. TPG earlier Monday released third-quarter earnings, which showed a swing to a net profit of EUR125 million compared with a net loss of EUR88 million a year earlier. Haars said the impact of rising fuel prices on the company’s Express parcel delivery unit remained relatively muted. Analysts had focused on margins at the Express unit which they feared could have suffered from rising fuel prices.
