Excellent execution drives strong TPG operating income growth
02 August 2004 - 10:21 CET
Record second quarter margins in Mail and Express.Highlights:
- Operating income up 30.8% in second quarter
- Record second quarter margins in Mail and Express
- Logistics turnaround on track - Net income up 31.5%
- Free cash flow up € 39 million
- Interim dividend up 11% to € 0.20 per share
- Express and Mail outlook raised
- TPG-1 initiative taking shape
- First major step into Freight Forwarding
CEO Peter Bakker:
"I am pleased with the increase of almost 31% in operating income over the second quarter as it underlines excellent execution in our businesses. These strong results are achieved in economic conditions that are getting better but are still mixed, looking at our different geographical markets and sectors. With an improved outlook in Mail and Express, TPG is able to reiterate with increasing confidence that good improvements in operating and net income will be achieved in 2004."
For the complete press release, please see our TPG parent company www.tpg.com.
