TNT CFO: Express Unit Benefits From Strikes At Royal Mail

[Geezer]

TNT CFO: Express Unit Benefits From Strikes At UK's Royal Mail

http://online.wsj.com/article/BT-CO-200 ... 06532.html

AMSTERDAM (Dow Jones)--Netherlands-based TNT NV's (TNT.AE) express business is benefiting from strikes at U.K's Royal Mail, Chief Financial Officer Henk van Dalen said Monday.

Speaking on a conference call for analysts, Van Dalen didn't specify how much TNT's express unit has gained from the strikes at the U.K.'s state-owned postal service.

Meanwhile, TNT's postal unit has been hurt by stoppages as it depends on Royal Mail for the end-delivery of mail, Van Dalen added.

Postal workers at Royal Mail held a two-day strike almost two weeks ago, the first of what they have threatened could be regular stoppages in coming weeks.

"In the short term, the strikes [at Royal Mail] create difficulties. However, in the long term, customers might switch to TNT because they think Royal Mail isn't reliable," Van Dalen said.

TNT is the largest private mail operator in the U.K.

Earlier Monday, TNT reported a smaller-than-expected fall in third-quarter net profit due to continued cost cutting, and remained cautious about the sustainability of a recovery.



-By Eelco Hiltermann, Dow Jones Newswires; +31-5715-200; eelco.hiltermann@dowjones.com

[mailman337]

Quote: Meanwhile, TNT's postal unit has been hurt by stoppages as it depends on Royal Mail for the end-delivery of mail, Van Dalen added. unquote

Well, thats one in the eye for those leeches !!

[Geezer]

I like this bit


"In the short term, the strikes [at Royal Mail] create difficulties. However, in the long term, customers might switch to TNT because they think Royal Mail isn't reliable," Van Dalen said.

After he just said

Meanwhile, TNT's postal unit has been hurt by stoppages as it depends on Royal Mail for the end-delivery of mail, Van Dalen added.