A leading courier services provider has confirmed that its revenues fell during the second quarter of this year.

Parcel delivery firm TNT experienced a ten per cent year-on-year drop in its revenues in the second quarter of 2009.

The company has revealed that its operating income also fell by over 45 per cent over the period, while revenues for its Express services dropped by 15.5 per cent.

According to chief executive officer Peter Bakker, despite the results, cost saving measures have helped the firm to increase its savings target for this year.

He added: "Going forward we assume continuation of tough trading conditions to persist in the second half of the year, as early signs pointing towards improvements in the general economic climate in the second half of 2009 are still too uncertain to indicate a positive trend line development."

TNT currently serves over 200 countries and employs around 163,000 people worldwide.


Article Added: 29/07/2009 09:39:40