TNT Express restructuring now underway

In its quarterly report released on Monday, global transport company TNT Express attributed the implementation of the 'Deliver' profit improvement program as a factor in its financial and management strategy.

The program is planned to run until the end of 2015 and is built around four priorities – reshape the company’s portfolio, focus on TNT Express’s distinctive service, as well as “execute better and invest in infrastructure and IT”. Items addressed during the first quarter have included the sale of TNT's domestic road operations in China and Brazil. 

The quarterly report now showed that in the Asia Pacific region – which includes Australia – activities were down only slightly when compared with the same period as last year; and that the Australian operations were affected by a lower weight per consignment as well as local price pressure.

Commenting on the quarter’s developments, interim CEO Bernard Bot said: “The implementation of our profit improvement plan 'Deliver' is now underway. The initiatives to improve our margins, lower our cost base and reduce our exposure to loss-making activities have all been launched. We have also taken important steps in reorganising the company.

“We reiterate our view that trading conditions in 2013 will continue to be challenging, especially in Europe. This underscores the need to optimise our market position and improve our productivity. The management team and I now look forward to Tex Gunning starting as CEO on 1 June 2013.”

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