TPG REPORTS 28% JUMP IN NET INCOME

TPG REPORTS 28% JUMP IN NET INCOME    TNT Post Group said Thursday its first-half net income rose 28.1 percent to euro 319 million ($281 million), due to strong performances in its mail, express and logistics operations.
   The Dutch logistics firm reported earnings from operations improved 19.6 percent to euro 555 million ($488.6 million) on revenue of euro 5.56 billion ($4.90 billion), up 18.7 percent.
   Earnings from logistics operations doubled to euro 85 million ($74.8 million) on revenue of euro 1.54 billion ($1.36 billion), up 71 percent. The logistics unit benefited from improved operating margins and a new contract which contributed euro 453 million ($399 million) in additional revenue, TPG said.
   Earnings from operations for express rose 28.1 percent to euro 73 million ($64.3 million) on revenue of euro 2.06 billion ($1.81 billion), up 2.8 percent. Positive yield development offset declines in some European industry sectors. Earnings were also impacted by performance issues in Australia where difficult economic conditions have impacted express revenues and earnings, the company said.
   TPG says it maintains its outlook for 2001. The company expects to grow net income from continued operations in 2001 by 20-25 percent.