Dutch package delivery company TNT Express NV (TNTEF.PK, TNTEY.PK) reported that its first-quarter profit increased to 144 million euros from last year's 15 million euros, with earnings per ordinary share improving to 26.5 euros cents from 2.8 euros cents in the prior year quarter.
Profit before income taxes for the quarter was 224 million euros, up from 49 million euros in the year ago quarter.
However, total revenues for the quarter declined to 1.67 billion euros from 1.74 billion euros in the prior year quarter.
The company reiterated its view that trading conditions in 2013 will continue to be challenging, especially in Europe. The company expects to start seeing a positive impact from Deliver! in the second half of the year.
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