Dutch postal group TPG poised to expand on German market
— TNT Post Groep (TPG), the Dutch postal and logistics group, hopes soon to enter the German market, and reports that it is currently holding talks with potential co-operation partners. The Dutch group assures that it would have no difficulty in financing the deal.
The expansion plans of TPG are believed to have been prompted partly by a slowing down in growth for the group in the third quarter of 2002. Turnover increased from 2.6bn euros to 2.8bn euros, while net profit increased from 97m euros to 99m euros for the period under review, and the figures only barely fulfilled market expectations. The group’s logistics activities saw turnover up by 9 per cent to 822m euros, but operating profit fell by 12 per cent to 37m euros. Postal activities saw turnover up by 2 per cent to 918m euros, while operating profit remained stable at 144m euros. Express services saw turnover up by 7 per cent to 1.1bn euros.
Original article by htz.
Abstracted from Die Welt