TNT reports another profit fall

[Geezer]

http://news.bbc.co.uk/1/hi/business/8337488.stm

The Dutch mail delivery firm TNT Post has reported its fifth consecutive quarter of declining profits.

Net profit for the three months to the end of September came in at 99m euros ($146m; £89m), which was down 12% from the same period the previous year.

But it said conditions were starting to stabilise, and that the rate of decline in business spending was slowing.

TNT, which has been restructuring its domestic operations, saw its sales fell 7.6% to 2.48bn euros.

"In this quarter the trading environment has stabilised further, with some early signs of positive underlying developments," said chief executive Peter Bakker said in a statement.

TNT is Europe's second biggest mail and delivery company.

It has previously expressed an interest in buying a stake in Britain's Royal Mail.

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