TNT Express posts Q1 loss in lead up to FedEx acquisition

The Netherlands-based third-party logistics company reported an operating loss of 1 million euros (U.S. $1.13 million) on revenues that fell 2.2 percent year-over-year for the first quarter of 2016 to 1.59 billion euros.    TNT Express posted an operating loss of 1 million euros (U.S. $1.13 million) for the first quarter of 2016, a 10 million euro improvement from the first quarter of 2015, the company said.
   Revenues dipped 2.2 percent year-over-year for the first quarter of 2016 to 1.59 billion euros.
   Both operating income and revenues were hindered by fewer working days, TNT said.
   The company’s International Europe segment revenues totaled 679 million euros for the quarter, a 2.4 percent increase from the first quarter of 2015. During the quarter, the segment continued to invest in sales, marketing and capabilities to support service improvements, including the continued expansion of its road network into Eastern Europe.
   Revenues in the International AMEA segment inched up 0.9 percent year-over-year for the quarter to 235 million euros.
   Meanwhile, revenues in the Domestics segment reached 575 million euros, while revenues in the Unallocated segment totaled 102 million euros, year-over-year drops of 7.4 percent and 4.7 percent, respectively.
   Looking ahead, TNT said it expects the $4.8 billion acquisition by FedEx to reach completion in the first half of 2016.