TNT Express saw first-quarter operating revenues decline year-over-year by 6.6 percent to 1.61 billion euros and operating income plummeted 92.2 percent to 17 million euros, but officials said the company’s turnaround plan was on track, as TNT Express realized 30 million euros in savings during the quarter.
Officials also said they saw good results from operations in Europe and the Americas, but that the pacific was “under pressure” during the quarter. In general, revenues declined because of TNT’s offloading of its Chinese domestic holdings, “contract pruning” and negative impacts from foreign exchange rates.
“TNT Express’ performance improved this quarter,” Tex Gunning, the integrator’s chief executive officer, said in a statement. “To realize our 2015 ambitions, we target further improvements in our top and bottom line through the roll out of our outlook strategy. As significant progress has been made in restructuring our businesses, we are now increasingly focusing on growth in our target segments.”
TNT Express sees revenues decline in 1Q
