TNT Express planning emerging market disposals on fresh losses

City A.M. Reporter
TNT Express, whose $7bn (£4.5bn) takeover by United Parcel Service was blocked last month, reported a fourth-quarter loss yesterday and said it was looking to sell troubled businesses in Brazil and China.

The collapse of the UPS deal leaves the Dutch express delivery firm having to confront a weak European market on its own.

It reported a net loss for the final quarter of 2012 of €148m, down from a loss of €173m a year ago on flat revenue of €1.86bn, while analysts had on average forecast a net profit of €32.2m on revenue of €1.886bn.

“There are many positive actions we can take to improve profitability and we look forward to providing a full update on 25 March,” said Bernard Bot, interim chief executive. He also said the company was looking to make disposals abroad. “Divestment opportunities for our domestic activities in Brazil and China are being secured," he said.