TNT Express reports double-digit profit declines in 3Q2013

TNT Express revenue down 7% - financial highlights for three months ended 30-Sep-2013:

• Revenue: EUR1621 million, -6.6% year-on-year;
• • Europe main: EUR777 million, -5.5%;
  • Europe other and Americas: EUR282 million, -0.4%;
  • Pacific: EUR152 million, -20.8%;
  • AMEA: EUR270 million, -8.5%;
• Operating profit (loss) from continuing operations: EUR9 million, -85.5%;
• • Europe main: EUR5 million, -88.6%;
  • Europe other and Americas: EUR12 million, +9.1%;
  • Pacific: (EUR1 million);
  • AMEA: EUR6 million, compared to a loss of EUR1 million in p-c-p;
• Net profit: EUR6 million, -25.0%;
• Total assets: EUR4210 million;
• Cash and cash equivalents: EUR576 million;
• Total liabilities: EUR1734 million. [more - original PR]

TNT Express: "While some segments are showing better performance, overall trading conditions remain demanding and visibility limited. Our ultimate goal is to make TNT Express robust for the long term. We are therefore developing further initiatives to reinforce our market and operational positions," Tex Gunning, CEO. Source: Company statement, 28-Oct-2013.