HOOFDDORP (dpa-AFX) - TNT Express N.V. (TNTEY.PK) posted first-quarter 2012 profit attributable to equity holders of the parent of 16 million euros, as against a loss of 106 million euros a year earlier. Earnings per ordinary share for the recent quarter were 2.9 euro cents.
Total revenues grew to 1.82 billion euros from 1.80 billion euros in the 2011 first quarter, with quarterly adjusted revenues at constant FX totaling 1.78 billion euros.
The company noted that the timing of implementation of certain long-term projects that are part of 2012-2013 fixed-cost savings programme temporarily adjusted in light of the proposed UPS offer.
TNT Express anticipates discussing the proposed offer with its shareholders during an Extraordinary Shareholders Meeting to be held in the third quarter of 2012, while indirect cost savings programme introduced in May 2011 is to be completed this year.
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© 2012 AFX News
