TNT Hungary Reports Higher Sales
TNT Hungary, the Hungarian unit of Dutch delivery firm TNT Post Group, said on Wednesday sales grew six percent in 2001 to 4.4 billion forints ($16.28 million) and that it ended the year in profit, but did not provide details. The company also declined to provide data on delivered tonnage, but said it had boosted both land and air transport mainly due to expansion of its network. ‘We had good results last year despite the fact that the Hungarian processing industry, where we traditionally obtain most of our orders from, had weaker output, especially in the second half of 2001’, CEO Marton Jarosi said. TNT expected Hungary’s economy to pick up in the second half of 2002 and to bring a tangible improvement in TNT Hungary’s results in the fourth quarter, Jarosi said. The company, which spent 140 million forints on development in 2001, planned to spend 890 million forints on investment this year, including the construction of a new headquarters in Budapest at a cost of 600 million forints. The new headquarters, to be financed mostly from own sources, would be completed by the end of the year
