TNT posts €55m quarterly loss

A provision for a possible cartel fine in France and restructuring expenses have pushed courier TNT into the red. The company announced on Monday that they have suffered a net loss of 55 million euro, after a profit of 6 million euro last year. TNT also faced declining revenues. The turnover continued to decline in the past quarter and amounted to 1.65 billion euro, 2 percent less than a year earlier. They suffered an operating loss of 47 million euros, compared against a profit of 3 million euro in the third quarter of 2013. The company would not give concrete expectations for the whole 2014. The company does however see operating results in Europe and America stabilizing, although the economic outlook remains murky. The results in Asia, Africa and the Middle East will be significantly better than last year. This also applies to domestic transport operations in Brazil. TNT also predicts an improvement in Australia. TNT also announced that they will invest 185 million euro in its European road transport activities in the next 4 years. This money will be focused on improving productivity and quality of service.