TNT Express Profit Beats Estimates As Cost-Savings Kick In

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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.
 
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