TNT Philippines posts 12% growth
TNT Express Worldwide (Philippines) Inc. said yesterday it posted a 12-percent growth in revenues in the first quarter of the year despite a 30-percent decline in its biggest market, the electronics sector.
In an interview, TNT Philippines country general manager Jose Luis Romero-Salas said the company could still meet its 29-percent growth target for this fiscal year, as the electronics sector was seen making a turnaround by the second half of the year.He said TNT Philippines was not totally reliant on bulk shipments of electronic components, as these accounted for only 30 percent of its overall business.
Around 50 to 60 percent of TNT Philippines’ revenues came from its document and parcel delivery services, he said.
“Our biggest market is electronics, but we also get a lot of document and parcel delivery business from banks like the Asian Development Bank and HSBC (Corp.),” he said. Abigail L. Ho
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