TNT revenue explodes 24% in 2005
Express delivery company TNT's revenue in Hungary increased 24% to Ft 9.8 billion in 2005, beating the market's 10%-15% expansion during the period, TNT Express Worldwide Hungary Kft's managing director Márton Jánosi Jr. announced yesterday.
Jánosi did not disclose the company's profit, but said pre-tax profit was in line with the industry average of 10% of revenue. In 2006, TNT targets a 20%-30% increase in revenue.
TNT spent Ft 320 million on developments in Hungary in 2005, including Ft 100 million spent to raise the number of vehicles in its fleet 10% to 120 and Ft 130 million on IT developments. In 2006, the company plans to spend Ft 344 million on investments, including Ft 70 million to expand its logistics center in Budapest by 6,500 square meter, Ft 120 million on IT developments and infrastructure and Ft 154 million on new vehicles. TNT has also set aside Ft 290 million to build a base at a long-delayed cargo terminal at Budapest's Ferihegy airport.
TNT leads Hungary's express delivery market, with a 35%-40% share.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.