TNT Latvia Postal Services doubles turnover in 2001

TNT Latvia express postal deliveries posted a turnover of 672,000 lats (EUR 1.193 mln) last year with profits of 79,000, reported the Latvian branch of the international postal company.

TNT Latvia claimed that the turnover last year was almost double that of 2000, which was 372,000 lats. This year the company forecasts a turnover of 900,000 lats.

The company also reported that the total number of postal packages handled by the company increased by 76 percent, expecting another rise of 30 percent this year.

Last year TNT Latvia handled 470.5 tons of various packages last year.

In 2000 TNT held around 20 percent of the Latvian express delivery market, in third place, with DHL holding 50 percent of the market in first place, followed by UPS with 25 percent.

Market share for last year will be calculated after competing companies post their results, while the company is sure of having boosted its market share.

TNT Latvia launched operations in 1999.