TNT’s operating profit dips 2%

TNTÆs operating profit dips 2% Netherlands-based postal and express group TNT N.V. today reported a second quarter operating profit of 330 million euros ($453 million), a 2.1 percent drop compared to 337 million euros a year ago.
   TNT’s quarterly revenue rose 10 percent to 2.7 billion euros ($3.7 billion), from 2.4 billion euros in the second quarter of 2006.
   'Overall, the second quarter brought satisfactory results for TNT,” said Peter Bakker, TNT’s chief executive officer. “The volume development in express was particularly strong for our international flows, and mail performed in line with our expectations.”
   After six months, TNT’s operating profit was up 2.6 percent to 681 million euros ($933 million) while revenue gained 9.6 percent to 5.4 billion euros ($7.35 billion).
   At the end of 2006, TNT sold its logistics division (now known as CEVA Logistics) to New York-based investment firm Apollo Management and later sold TNT Freight Management to French logistics company Geodis.