TNT seeks to soar above Asia rivals in four years
TNT, the Dutch express parcels, logistics and mail company, has
thrown down the gauntlet to arch rivals Federal Express, UPS and DHL
with ambitious plans to be the market leader in Asia by 2005. Ken McCall, TNT Asia chief executive, said the company is aiming for
fourfold growth overall in the next four years. He said that within this overall growth figure, TNT wants to grow
its express business threefold and its logistics business by more
than 10 times by 2005. The new targets follow a doubling of the firm’s business in Asia
between 1998 and 2001. This year, TNT is on course to post a 20 per
cent year-on-year increase in the volume of express parcels and a 34
per cent gain in logistics services. Mr McCall said TNT is the leading Asia-Pacific operator in the
international and domestic express business and second in intra-Asia
volume. The firm has also seen growth rates of more than 30 per cent
over the past three years in China and is expanding its business in
key markets, such as Hong Kong, Japan and Singapore. Mr McCall gave no specific volume or financial figures but in March
TNT’s parent company, TPG announced a 25.5 per cent increase in net
income last year to 526 million euros (HK$3.67 billion). Total
revenues climbed 16.4 per cent to almost 9.94 billion euros. Total revenues at TNT’s express business rose 17.2 per cent to
nearly 4.15 billion euros which included a 21.1 per cent surge in
revenues from the firm’s international, mainly Asian operations, to
862 million euros. The logistics business, which included operations
in Asia, North America and Europe, saw total revenue rise 43.2 per
cent to 2.18 billion euros. Earnings increased 46.5 per cent to 126
million euros. Mr McCall said: “We are on track to grow to meet our aspirations
and we have been steadily gaining market share.” The firm recently
announced a US$1 billion (HK$7.8 billion) alliance between its
international mail division, Singapore Post and British Post Office.
TNT has also signed strategic alliance agreements with China Post
and Japan’s Kintetsu World Express. keithw@hk-imail.com
Copyright 2001 Hong Kong iMail. Source : World Reporter (Trademark)
HONG KONG IMAIL, 10th September 2001
