TNT Express back in the black in 1Q2012

TNT Express revenue up 1% - financial highlights for three months ended 31-Mar-2012:

• Revenue: EUR1819 million, +1.3% year-on-year;
• Operating profit: EUR37 million, compared to a loss of EUR79 million in p-c-p;
• Net profit: EUR16 million, compared to a loss of EUR106 million in p-c-p;
• Total assets: EUR4643 million, -1.2% when compared to period ended 31-Dec-2011;
• Cash and cash equivalents: EUR229 million, -8.4% when compared to period ended 31-Decc-2011;
• Total liabilities: EUR1833 million, -3.0% when compared to period ended 31-Dec-2011. [more - original PR]

TNT Express: "As announced at the beginning of the year, the first quarter of 2012 has been challenging, given the ongoing sluggish business environment. In Europe, cost savings and commercial initiatives are being pursued to mitigate revenue pressure. Profitability in Asia-Pacific improved, despite weak intercontinental demand. Americas also improved, with better results in Brazil," Marie-Christine Lombard, CEO. Source: TNT Express, 02-May-2012.