TNT Express sees revenues slowing in 2005
Delivery services provider TNT Express Worldwide Philippines, Inc. yesterday said it expects revenues this year to grow by 28percent, slower than the 40percent revenue growth it posted last year.
TNT Express country general Manager Jose Luis R. Salas said revenue growth will slow this year due largely to the decision of one of its major clients, Acer Philippines, Inc., to transfer its manufacturing operation to China.
“Revenue growth for the year is expected to soften on account of Acer’s decision to transfer to China,” Mr. Salas told reporters yesterday in a briefing in Makati City.
He said growth for 2005 is expected to come from its high-end special services business as well as its courier and logistics operations.
The company’s special services business involves delivering cargoes that require special handling such as delivering blood samples to a research facility.
Mr. Salas said the company has cornered 50percent of the market for the special services segment. Its leading competitor is World Courier. “We want to position our special services segment as no. 1 in the Philippines, and possibly in Asia.” Mr. Salas also disclosed that majority of the clients of the Philippine unit of Europe-based TNT International Express is in the semiconductor and electronics industry.
The company’s main hub is in the Ninoy Aquino International Airport compound and it has a small depot in Makati, one in Laguna, in Cebu and Cavite and a new one in Ortigas. Its Manila operations started in 1982.
