TNT Express Turns To Profit In Q4; Sees Growth In FY Adj. Operating Income

(RTTNews) - Dutch package delivery company TNT Express NV (TNTEF, TNTEY), which is being acquired by U.S. peer FedEx Corp. (FDX), reported Tuesday that its fourth quarter profit attributable to equity holders of the parent was 19 million euros, compared to last year's loss of 137 million euros.

Operating income was 57 million euros, compared to loss of 53 million euros a year ago. Fourth-quarter operating income absorbed net one-off charges of 39 million euros.

Excluding one-off charges, TNT's adjusted operating income almost doubled from a year earlier to 96 million euros.

Revenues increased 4.1 percent to 1.861 billion euros from 1.787 billion euros last year. Underlying revenue growth was 3%.

Looking ahead, the company said it expects further year-on-year improvements in adjusted operating income in full year 2016.

The company added that good progress has been made towards closing of the FedEx offer to acquire TNT. Pre-integration planning is well on track.