TNT slumps
2rd April 1983, Page 14
2rd April 1983
Page 14
Page 14, 2rd April 1983
— TNT slumps
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TNT, the Australian-based inter. national transport company, had a 37 per cent drop in mil profit for the six months endec December 31, 1982.
Profits fell from £24m to £15m, The drop was attributed to a recession in world transport and higher interest costs.
TNT is formulating a rationalisation programme to achievE savings of E4.7m and the shed. ding of 800 jobs, but it is noi known whether its UK-based companies will be affected.
Sales in the six months to December were up by 23 per cen1 at £427m, but pre-tax operating profit fell 44 per cent to E19.7m.