TNT Express Profit Beats Estimates As Cost-Savings Kick In

Discussion in 'The Latest UPS Headlines' started by cheryl, Jul 30, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    TNT Express Profit Beats Estimates As Cost-Savings Kick In - Bloomberg

    TNT Express NV (TNTE), the Dutch express- delivery company that United Parcel Service Inc. (UPS) is bidding to buy, reported second-quarter profit that was double analyst estimates as cost-saving measures took effect and sales rose.

    “Results are much better than expected, especially in Europe, but also in Asia-Pacific,” Andre Mulder, an Amsterdam- based analyst at Kepler Capital Markets who recommends buying TNT shares, said by phone. “I had expected them to be a bit distracted due to the takeover process, but that happened not to be the case.”

    European Union antitrust regulators are reviewing UPS’s $6.8 billion offer for TNT and will rule by Dec. 12.