TPG delivers solid first half results
TPG has today announced its second quarter 2002 and half year 2002 results.
Combined earnings from its three businesses, Mail, Express and Logistics,
grew by 8.6% in the half year and by 9.7% in the second quarter on revenue
growth of 4.2% and 4.0% respectively.
Operating cash flow for the group increased in the half year by 66% to €591
million with net debt reducing by €209 million from the 2001 year-end,
supporting an increase in interim dividend of 7.1% to €0.15 per share.
Net income from continuing operations for the first half of 2002 was €288
million, a growth of 0.7%. Second quarter net income growth from continuing
operations was 22.9%.
The full year 2002 outlook has been reconfirmed.
