Tag: TNT

TNT profit from continuing operations up 12.0 pct – 10.0 pct increase in group revenues

Posted by | Jul 30, 2007 | |

Group revenues increased by 10.0 pct in the second quarter to reach EUR 2,689 million. Operating income of EUR 330 million was slightly (-2.1pct) below last year’s Q2 mainly explained by some significant one-off items in last year’s numbers.

The profit attributable to shareholders was EUR 244 million, an increase over last year of 16.7 pct.

Strong revenue growth in Express (+14.1 pct) propelled the Group’s revenue increase. Our growth in international volumes remained strong at a solid double digit percentage, whilst domestic volumes developed slightly better than the market in general, at low single digit.

The integration of the Express acquisitions made good progress, with a marked service quality upgrade in India, the launch of a new truck fleet in China and better than expected results in Brazil. The operating margin of Express remained solid at 10.1pct, excluding the effect of acquisitions.

The trend in Dutch addressed mail volumes was ‘as expected’ (-3.5pct, day-count adjusted), with a favourable price/mix effect reducing the impact on revenues. Revenue growth in EMN was 33.3pct (37.0 pct for the half year). The operating margin decreased compared with last year in Mail overall, affected by one-off elements in Q2 2006 and higher start-up costs in EMN.

The 2007 interim dividend is set at 30 cents (2006: 26 cents), up 15.4 pct.

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TNT to invest 7 million euros in Vietnam

Posted by | Jul 26, 2007 | |

The global express service provider TNT announced on July 24 that it would invest more than 7 million Euros over the next four years in its domestic express services in Vietnam.

The launch makes TNT the first international express mover in the country to introduce and offer premium express services.

Part of the investment will go towards additional vehicles and new hires. The company will also open five more branches in Bac Ninh, Vinh Phuc, An Giang and Ca Mau provinces to support the service, increasing the total number of TNT’s location in Vietnam to 23.

As with all its services, TNT offers an integrated and comprehensive range of services including door-to-door express delivery of documents, parcels, and freight.

“Fast-tracking our growth in Vietnam supports our growth strategy to focus on enhancing the efficient flow of goods and information across borders, facilitating our companies’ access to other international markets, in particular, China,” said Ommo Boots, regional managing director for TNT Asia.

Ommo Boots, regional managing director for TNT Asia said the domestic service also supports the recent expansion of TNT’s Asia Road Network into Vietnam which will prepare the company for accelerated high double-digit growth as part of its strategic agenda for the next three to five years.

TNT also plans to expand the Asia Road Network to reach China through the northeastern border of Vietnam by the end of this year.

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EC gets tough on Royal Mail's VAT exemption

Posted by | Jul 25, 2007 | |

Royal Mail, reeling from a series of strikes by postal workers over pay and working practices, suffered a fresh blow on Tuesday when the European commission stepped up its threat to take the government to court over its decision to exempt all the former monopoly operator’s services from VAT.

Laszlo Kovacs, EU tax and customs commissioner, formally requested the government to amend UK legislation allowing Royal Mail to charge zero VAT on high-value bulk mail and commercial deliveries for which rivals must pay the standard rate of 17.5 pct..

The zero rate applied to stamps for normal deliveries to more than 20m British homes under the “universal service obligation” (USO) — guaranteeing one delivery a day, six days a week, to every address in the UK for the same price — would be unaffected.

The commission’s move is the second stage in the infringement procedure and could lead it to take Britain to the European court of justice, Europe’s highest court. UK laws on exemption for all Royal Mail’s services are deemed incompatible with the sixth VAT directive.

The government showed little sign of giving way to Brussels on the issue. “We are satisfied that our position is consistent with the EU VAT rules in this area, which require VAT exemption for services provided by the ‘public postal services’,” a Treasury spokesman said.

Royal Mail said it remained opposed to the imposition of VAT on its postal charges. “While the issue of VAT is a matter for the UK government, we have said that an increase in prices as a result of the imposition of VAT is the last thing we want for any of our customers, particularly charities and small businesses.”

A spokesperson for TNT Post, one of Royal Mail’s rivals, said: “This action supports our view that the VAT distortion needs to be removed.”

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TNT starts new service brand after HOAU acquisition

Posted by | Jul 25, 2007 | |

TNT has started a new service brand in China after it regrouped the acquired HOAU Logistics.

With the acquisition in March, the global giant has not only obtained the big ground transportation network and the huge customer base from the biggest freight and parcel delivery operator in Mainland China, but also successfully marched into the fragmented Chinese ground transportation market.

HOAU Logistics, headquartered in the northeastern province of Heilongjiang, has controlled 56 subsidiaries and 1,250 locations with a business network covering over 400 large and midsize cities.

In order to regroup the HOAU Logistics business, TNT has earmarked CNY 50 million to consolidate information systems and train related employees, disclosed Pang Fuxing (transliterated), new president of the regrouped HOAU Logistics.

Millions of US dollars are expected to be injected further in the following years, part of its efforts to create the biggest ground transportation network in the country.

The Dutch company has put into operation 260 trucks, the first batch purchased after the acquisition, under the new brand since last week. In the months to come, 1,250 branches and 3,000 across the country will start service with a new logo.

But the Chinese fragmented market is much now filled with not nice competitions. TNT will try offering time-definite ground transportation service in the country, just as it has done in the express delivery sector, in a bid to form advantages with rapid and reliable diversified service.

Meanwhile, the global giant has adjusted its express delivery business in China when other rivals like UPS and FedEx entered the Chinese express delivery sector in succession.

TNT will not expand in future beyond current partners and it has even ceased cooperation projects in some regions, told Michael Drake, managing director for TNT’s operations in the Greater China.

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Document Actions Dutch parliament calls for return of 'golden shares'

Posted by | Jul 25, 2007 | |

A majority in Dutch parliament backs a return of so-called golden shares held by the government to protect strategic industries against foreign takeovers.

Although the Dutch parliament is in recess, a roundup by the ANP news agency of the most important parties showed a majority supports the idea of giving the Dutch government special golden shares.

The measure would give the holder veto rights in certain circumstances and can be used to protect a company from possible takeover.

Ruling coalition partners Christian Democrat CDA and Labour are calling for a return of the golden share together with the far-left Socialist Party, the biggest opposition party.

The Dutch state in November shed its last golden shares in the former Dutch postal services company, since renamed TNT, to comply with rulings of the European courts, which oppose such arrangements.

On Monday EU Trade Commissioner Peter Mandelson, in an interview with a German newspaper, suggested that golden shares could be used to protect strategically important European companies against foreign takeovers.

There is growing unease in Europe about the growing clout of state-financed investment funds from Russia, China and the Gulf states in European industry.

On Monday in the European takeover battle over Dutch ABN Amro bank, British bidder Barclays announced it had teamed up with a state-linked financial institutions in China and Singapore to boost its new bid.

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