TNT second-quarter profits fell due to restructuring of postal services 96%

Dutch express delivery giant TNT, Monday announced second quarter earnings, quarter net profit fell 96%. Group announced a new chief financial officer candidates, and said the ongoing stripping to complete the separation of postal and express delivery business plan.

Group said profit fell last quarter to 300 million euros, while the same figure a year ago, 81 million euros, while revenue grew 9.6% to 2.77 billion euros.

Company said the profit decline was the company for the restructuring of postal services provision for the preparation of nearly 168 million euros. In the analysis of split plan, TNT said the mail and express business completely stripped, "the two business development will be beneficial." Group said in early 2011, TNT will operate independently of these two businesses.

Group also has been appointed (Bernard Bot) as the new chief financial officer. The appointment of former Chief Financial Officer Henk van Daalen (Henk van Dalen) made after departure.