Good third quarter builds on TPG's first half year trends
25 October 2004 - 10:13 CET
Highlights:- Double digit net income growth
- 20th consecutive quarter of positive revenue yield in Express
- Logistics continues to improve its margin
- Another solid quarter from Mail
- Wilson acquisition completed and integration started
- Operating cash flow up €59 million to €336 million
- €409 million share repurchase as part of State sell-down
CEO Peter Bakker:
'I am pleased that several important positive trends we saw in the first six months of 2004 are continuing in the third quarter. Express achieved a record third quarter margin, Logistics made further progress on its path of margin improvement, and Mail put in another solid performance. With these strong results, I remain confident in the divisional outlooks.'
For the complete press release, please see our parent company's web site www.tpg.com.
