TNT profit from continuing operations up 12.0 pct – 10.0 pct increase in group revenues
Group revenues increased by 10.0 pct in the second quarter to reach EUR 2,689 million. Operating income of EUR 330 million was slightly (-2.1pct) below last year’s Q2 mainly explained by some significant one-off items in last year’s numbers.
The profit attributable to shareholders was EUR 244 million, an increase over last year of 16.7 pct.
Strong revenue growth in Express (+14.1 pct) propelled the Group’s revenue increase. Our growth in international volumes remained strong at a solid double digit percentage, whilst domestic volumes developed slightly better than the market in general, at low single digit.
The integration of the Express acquisitions made good progress, with a marked service quality upgrade in India, the launch of a new truck fleet in China and better than expected results in Brazil. The operating margin of Express remained solid at 10.1pct, excluding the effect of acquisitions.
The trend in Dutch addressed mail volumes was ‘as expected’ (-3.5pct, day-count adjusted), with a favourable price/mix effect reducing the impact on revenues. Revenue growth in EMN was 33.3pct (37.0 pct for the half year). The operating margin decreased compared with last year in Mail overall, affected by one-off elements in Q2 2006 and higher start-up costs in EMN.
The 2007 interim dividend is set at 30 cents (2006: 26 cents), up 15.4 pct.
