As a result of the fail merger with UPS, TNT Express has decided to sell courier operations in Brazil and China.
The logistics giant recently published reports demonstrating a 2% decline in revenue with TNT Express' operating income decreasing to EUR 47m in Q4 2012.
"The fourth quarter continue to be challenging, with our European results under pressure from weak economic conditions. Our market position in Europe however remains strong, with healthy volume growth and positive customer churn. Asia Pacific showed solid year-on-year improvements, with positive results for the quarter and the year as a whole", said Bernard Bot, interim CEO at TNT.
TNT hopes to sell its operations in China by 25th March 2013 whilst also focusing more on the European courier market.
"TNT Express' strengths are the foundation of the strategy update that we are currently undertaking. (...) Divestment opportunities for our domestic activities in Brazil and China are being secured. The outcome for China Domestic will soon be known", explained Bot.
According to company sources, 2013 may become a struggle for TNT Express as it is faced with changing trading conditions and a difficult economic climate in Europe.
Source: TNT Express, Post & Parcel
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