TNT reveals 'encouraging' fourth-quarter turnover data
25th February 2010, Page 8
25th February 2010
Page 8
Page 8, 25th February 2010
— TNT reveals 'encouraging' fourth-quarter turnover data
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TNT SAYS THAT trading conditions in the fourth quarter of 2009 were "improving" as it unveiled full-year revenue of €648m (E570m), some €300m (265m) less than 2008's €982m (2865m).
Operating income in 04 was €128rn (£113m) against €160m (2148m) in the corresponding period from 2008, CEO Peter Bakker says: "Operating results in 04 2009 were relatively solid in a trading environment that continued to improve, leading for the first time since 02 of 2008 to a higher group operating income than the same quarter last year. But it is still below 2006 economic activity levels."
He says that significant cost savings and a focus on cash have helped the firm to emerge from the recession in a stronger position.
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Peter Bakker