Hungarian TNT unit to spend EUR 2.7 m on developments in 2007

The Hungarian unit of TNT, a global mail and express delivery services group, plans developments worth HUF 673 million (EUR 2.7 m) in 2007 in Hungary, considerably more than last year.

TNT Express Worldwide Hungary Ltd. intends to spend HUF 290 million on a new airport base they hope to open already this year.

In 2006, the company pumped HUF 369 m into development projects, mostly on the expansion of their Budapest facility to 1,950 square metres from 1,300 sqm, mfor.hu has reported on Wednesday.

The company claims to have posted revenue growth much larger than the industry average last year, but did not provide details. It noted, however, that the government’s austerity measures had their negative impact felt in the second half of 2006.

Last year, the company increased its vehicle fleet by 8% yr/yr and invested considerably into IT upgrades, as well.