TNT Latvia Delivery Co plans 2003 sales up by 36%

TNT Latvia courier service and logistics company expects its annual turnover in 2003 to reach two million euros at a 36 percent growth from 2002.

TNT Latvia director Martins Gerkens told the press upon continued successful growth company’s financial results this year could be even better.

Turnover in the first quarter of 2003 grew 42 percent year-on-year to 476,000 euros, and the company delivered 206,000 kilograms of packages at a 32 percent growth from last year.

The growth was for the account of both existing and new clients as well as expansion of the market in general, said Gerkens.

Qualified staff had a lot to offer for growth of the company, therefore TNT Latvia has spent 10,000 lats on personnel training in first five months of 2003, which is more than annual amount spent on the purpose last year.

TNT Latvia is working to expand its transport network in the country. A new daily pickup and delivery route has been organized between the Latvian capital Riga and Ventspils port in north-west, and more similar routes will be launched in near future.

Gerkens said TNT Latvia held some 25 percent of the Latvian market where its main rivals were DHL, UPS and Fedex.

In 2002 the company earned a profit of 117,500 lats (EUR 178,000) on a turnover of 956,000 lats.

TNT Latvia was founded in 1999 but its parent company, TPG N.V., had agents working in Latvia since 1991. TNT global network allows for deliveries to over 200 world countries.