TNT Express Q3 Profit Drops 25%

Dutch parcel-delivery company TNT Express NV reported a 25% drop in third-quarter net profit. The company’s net profit was €6 million, down from €8 million in the same period a year earlier. Revenue fell 6.6% to €1.62 billion amid pricing pressure at TNT's key European business and higher provisions, reports The Wall Street Journal. TNT said it will take further steps to improve its business as market conditions continue to be challenging. TNT 777 Freighter takes off from Everett, Washington, United States / Flickr "While some segments are showing better performance, overall trading conditions remain demanding and visibility (is) limited," CEO Tex Gunning said in a statement. "We are therefore developing further initiatives to reinforce our market and operational positions."