TNT Philippines bullish over growth
TNT Philippines is bullish about the growth of its business in the country after posting 200% growth in its economy express products and 100% in its express products for the first two months of the year. “We are not sure whether (this growth spurt) is sustainable. But it’s very promising,” country general manager, Cetin Yalcin said. Overall, “we are targeting 17% growth but our ambition is to grow 25-30% for 2010.”
Already, TNT has sunk in P15m affiliated investments in the Philippines for 2009. The company has two satellite offices in the metropolis and two depots in Cebu and San Fernando, Pampanga, a 4,300 square metre prime cargo centre adjacent to the Ninoy Aquino International Airport, an available warehouse of 1,200 square metres, more than 300 employees, over 90 vehicles and operates at least 115 flights per week.
“We want to invest in more depots and plan to have a new depot in Southern Luzon by June,” Yalcin revealed. “We expected to recover out investments in 3-4 years but we have recovered them in one year.”
Furthermore, TNT Philippines revenue continued to grow last year, despite volatile economic conditions. “We have posted more than 30% growth in our import shipments despite the country’s import sector’s negative posting of -26.8% and also met our objective of expanding our freight services with more than 16% increase in total shipments,” Yalcin explained.