TNT losses in 2016/2017
TNT UK made a pre-tax loss of £34.3m in the 17-month period up to 31 May 2017.
This compared to a £22.1m loss for the 12 months up to the end of 2015. TNT adopted the extended 17-month period to bring its reporting process into line with its new parent company, FedEx.
The company’s revenue for the 17-month period was £1.026bn and it achieved a gross profit of £58.388m, but its results were impacted by administrative expenses of £90.058m and other charges of around £3.8m.
The report, which was filed with Companies House last month, also noted that the global operations of TNT Express had been “significantly affected” by the NotPetya cyber attack on 27 June 2017. However, it said that, as of February 2018, “substantially all of TNT Express’s critical operational systems have been fully restored, critical business data has been recovered and core shipping services are back in place.”
