TNT’s first quarter net income up 6%

TNT’s first quarter net income up 6%    Dutch mail and global logistics provider TNT, posted first quarter net income of 205 million euros ($259 million), up 6.2 percent compared to 193 million euros in the same period last year.
   The company reported a consolidated operating income of 329 million euros ($416 million), a 14.2 percent rise over 288 million euros a year ago. Total revenue for the quarter was 2.65 billion euros ($3.34 billion), up 8.9 percent from 2.43 billion euros.
   TNT Logistics’ operating income jumped 33.3 percent to 20 million euros ($25 million), with revenues for the first quarter up 1.2 percent to 875 million euros ($1.10 billion). TNT made the decision at the end of 2005 to sell off all of its logistics unit.
   TNT Express saw its operating income rise 29.4 percent in the first quarter to 124 million euros ($157 million) with revenue up 13.7 percent to 1.44 billion euros ($1.82 billion). TNT’s mail unit’s operating income increased 3.3 percent to 222 million euros ($280 million) after revenue rose 4.1 percent to 1.01 billion euros ($1.27 billion).
   “We are pleased with the developments in Q1 of 2006. In all key areas of our Focus strategy, good progress has been made. Our businesses performed well, tax issues were further mitigated and the Logistics divestment is in progress. Our performance clearly supports the strategic direction that we started with our Focus strategy,” said Peter Bakker, TNT’s chief executive officer.