TNT revenue falls in ‘very difficult year’

Delivery service company records pretax profit of €2.3 million in 2012

TNT Express Ireland said it reduced its costs by 8.6 per cent in 2012.

TNT Express Ireland said it reduced its costs by 8.6 per cent in 2012.

Sat, Jul 6, 2013, 01:00

TNT Express Ireland, a delivery service company, has reported a drop in revenue for 2012, citing a “very difficult year” for the company.

A major cost-reduction programme impacted on performance, it said yesterday with the publication of its 2012 accounts. Although recording a pretax profit of €2.3 million, this fell from €2.6 million in 2011. As of December last year it had noted net assets worth €10.1 million, down from €18.1 million the previous year.

Reviewing business activity, TNT Ireland said it was “a very difficult year with revenues falling by 8.6 per cent [€3.52 million] as the economic downturn continued to impact our customers”.

“The company continued with its cost-reduction programme in an effort to reduce the overall costs in the year which resulted in a decrease of 8.6 per cent in 2012.”

TNT provides a range of “door-to-door” express delivery services and last year employed a total of 206 employees, down marginally from 211 in 2011. Wage costs were cut from €7.3 million to €6.5 million.