POSTAL STRIKE LATEST - TNT says it's benefiting from Royal Mail strike, sort of
LONDON - TNT, the Dutch-owned chief UK rival to Royal Mail, said it is gaining courier business thanks to strikes by Royal Mail workers, but that its postal operations are suffering.
That's because TNT Post UK, like all the other UK postal players, relies on Royal Mail for the ‘final mile' delivery of post.
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But Henk van Dalen, TNT'S chief financial officer, said that while the strikes were creating difficulties in the short-term "in the long-term customers might switch to TNT because they think Royal Mail isn't reliable".
He was speaking after TNT announced better-than-expected third quarter results. Though the company saw a fifth successive fall in quarterly profits, with third-quarter net profits of £89.4m down 12.4% on year earlier on turnover 7.6% lower, the figures beat analysts' forecasts.
TNT's Express courier business is picking up customers in the UK, benefiting from cost cutting and operational improvements.
At the weekend, TNT Post UK managing director Nick Wells said that the company's plan was to have its own postal workers deliver mail in the UK.
TNT: impacted by reliance on Royal Mail for 'final mile' delivery
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