TNT Express sees profit from ongoing operations rise 10.4pc

TNT Express, a business-to-business express delivery company, recorded a profit from continuing operations of EUR23.3 million (US$32.85 million) during the second quarter, up 10.4 per cent year on year, based on revenues of EUR2.68 billion.

In Hong Kong, TNT Express' revenues rose because of transshipment growth, which increased by 15 per cent during the first half of the year compared with the same period in 2006.

"TNT's transshipment business growth can be attributed to Pearl River Delta OEMs [original equipment manufacturers] who prefer Hong Kong's excellent logistic infrastructure, air cargo management, and speedy and reliable payment processes, which are superior to China's," said TNT Hong Kong managing director Ambrose Linn.

Some significant achievements so far this year, include the July signing between TNT and Hongkong Post of a Memorandum of Understanding that will allow the two companies to better serve Hong Kong's booming retail market segment. The two parties will also explore business opportunities in emerging markets.